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GST Council meeting on Saturday, big decision may be taken on online gaming

Sagar Patel

By Sagar Patel

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Finance Minister Nirmala Sitharaman will chair the GST Council meeting. Image Credit Source: ANI

After the Lok Sabha elections, a new government has been formed in the country. Narendra Modi took over as Prime Minister for the third time. With this, now the work of the government has also started moving forward at its own pace. In this sequence, the next meeting of the GST Council will be held on Saturday. Finance Minister Nirmala Sitharaman will chair this first meeting of the GST Council on Modi 3.0.

This time, the most important decision of the GST Council meeting may be the taxation of online gaming. There has been no consensus on this issue in recent meetings. This will be the 53rd meeting of the GST Council so far.

The Council may consider these issues.

According to PTI News, apart from the Finance Minister, this meeting will also be attended by state finance ministers. In addition to taxes on online gaming, an agreement can also be reached on the imposition of taxes on the payment of spectrum fees by telecom companies.

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This time, the council meeting will review the progress of the report of the Group of Ministers (GoM) formed on rationalization of Goods and Services Tax (GST) rates. There is also the possibility of discussing the finalization of this report.

This GST Council meeting is being held after eight months. Previously, the 52nd meeting was held on October 7, 2023. This time the meeting may review the decision to impose 28 percent GST on the total value of bets for online gaming companies. This decision has come into effect from October 1, 2023.

Approval has been received to modify the law.

The GST Council, in its meetings in July and August, approved amendments to the law to include online gaming, casinos and horse racing as taxable duties. It was also clarified that whatever bets are placed for this, 28 per cent GST will be charged on their total value. It was then said that this decision would be reviewed six months after its implementation.

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Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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