The Goods and Services Tax (GST) council took some significant decisions regarding the tax slabs of various goods and services on Tuesday. These decisions include the implementation of a 28 percent GST on online gaming, casino activities, and horse racing. Additionally, certain categories of cancer drugs will be exempted from the 12 percent Integrated Goods and Services Tax (IGST). Moreover, a 5 percent GST will be charged on food and beverages sold in cinema halls. Furthermore, the government plans to introduce amendments to levy a 28 percent GST on entry-level actionable claims.
Here are the details of these noteworthy changes.
–GST council approved 28 per cent GST on online gaming
–GST council approved 28 per cent GST on casino
–GST council approved 28 per cent GST on horse racing on full value
–GST council has also decided to provide exemption from 12 per cent IGST on certain categories of cancer drugs
–GST council has also decided to charge 5 per cent GST on food and beverage sold in cinema halls
–Government will make amendments in actionable claims to charge 28 per cent GST on entry level
