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Govt to levy 28% GST on online gaming, horse racing, casinos

Govt to levy 28% GST on online gaming, horse racing, casinos

GST Council has decided to exempt cancer-fighting drugs, medicines for rare diseases, and food products for special medical purposes from GST tax. Union Finance Minister Nirmala Sitharaman today chaired the 50th GST Council meeting in New Delhi. Addressing the media after the meeting, the Minister said 28 percent tax will be levied on online gaming, horse racing, and casinos and these will be taxed at full face value. She said the Council has also decided to exempt GST from satellite launch services by private operators.GST Council recommends Casino, Horse Racing and Online gaming to be taxed at the uniform rate of 28% on full face value. Ms Sitharman said that ED is not getting any information, neither it is providing any information through the recent finance ministry's notification. The Director FIU shall provide information to empower authorities wherever they feel there's chance of tax evasion or money laundering, she said.

GST rates on uncooked, unfried extruded snack pallets have been brought down from 18 percent to 5 percent. The rates on fish soluble paste have been reduced to 5 percent from 18 percent. Rates on imitation zari threads have been brought down to 5 percent from 12 percent. The meeting was attended by Minister of State for Finance Pankaj Chaudhary, Finance Ministers of States and UTs, and senior officials. On this occasion, Finance Minister Nirmala Sitharaman released a special cover and customized myStamp.

 
 
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