Mid-November is the target date for GST Council meetings

Oct 20, 2022 | GST FAQ, News | 0 comments

Mid-November is the target date for GST Council meetings

The GST Council is likely to meet in the first half of November to discuss the reports of the panel of ministers on setting up GST appellate tribunal and levy of tax casinos and online gaming, an official said.

In addition, the status of the much-awaited full report of the committee tasked with the rationalization of GST rates may also come up for discussion at the 48th Council meeting in Madurai.

Even if the report, which is to look at a merger in the GST slab that may result in prices of some goods and services going up, is presented, it is unlikely to be acted upon by the GST Council given high inflation.

The GoM on rate rationalization set up on September 24, 2021, was originally due to submit its report within two months or November 2021. The panel has got subsequent extensions since then. The Council, in its last meeting in June, had given the GoM time till September to submit a full report.

The official said that the GoM on GST appellate tribunal has already submitted its report, while the differences concerning GST on casinos and online gaming are still being ironed out. “The Council will meet next month, before mid-November,” the official told PTI.

In its last meeting on June 28-29, the Council decided to remove tax exemptions on a host of goods and services and also corrected the inverted duty structure.

The 47th GST Council meeting in June, held in Chandigarh, had approved the interim report of the GoM on rate rationalization, headed by Karnataka Chief Minister Basavaraj Bommai. The Council had then given a 3-month extension to the panel for submitting a full report on rate rationalization and potential tax slab merger under the GST.

About setting up GST Appellate Tribunal (GSTAT), the Haryana deputy chief minister Dushyant Chautala led GoM has submersed its report to finance minister Nirmala Sitharaman.

The report, a source said, has recommended one technical member and one judicial member in the GSTAT. The GST would hear appeals against the orders passed by the GST Appellate Authority, which consists of tax officers.

The official further said the GoM on applicable GST rate on casinos, horse racing, and online gaming is yet to arrive at a consensus and a final decision is expected soon.

The GoM, headed by Meghalaya chief minister Conrad Sangma, had originally suggested levying 28 percent GST on online gaming, casinos, and horse racing.

However, the Council, in June, referred back to the report of the panel for further discussion after Goa finance minister Mauvin Godinho highlighted that there was a need for greater detailing and greater understanding of why casinos require a different treatment in taxation compared to horse racing and online gaming.

Source from: https://www.moneycontrol.com/news/economy-2/gst-council-to-meet-before-mid-november-gom-reports-on-appellate-tribunal-tax-casinos-on-agenda-9359201.html

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