Gst Gom

GST Council revamps GoM for sector-specific tax policy suggestions

The GST Council has reconstituted the Group of Ministers on GST revenue analysis which will suggest sector-specific issues that need policy intervention, and the feasibility of a unified enforcement platform to check tax evasion. The GST Council, in its 55th meeting on December 21, 2024, had decided to reconstitute the Group of Ministers (GoM) on GST revenue analysis with a revised ToR. The GoM was first set up in 2019. The reconstituted GoM on 'Analysis of Revenue from GST' under Goa Chief Minister Pramod Sawant, would have nine members including from the states of Bihar (Samrat Chaudhary), Chhattisgarh (O P Choudhary), Gujarat (Kanubhai Desai), Andhra Pradesh (P Keshav), Maharashtra (Ajit Pawar), Punjab (Harpal Singh Cheema), Tamil Nadu (Thangam Thennarasu) and Telangana (M B Vikramarka). As per the expanded ToR, the GoM would analyse the state-wise revenue collection trend, including the identification of revenue patterns across sectors and regions. It would also review details

GoM on online gaming, casinos broadly agrees on 28% GST, Goa differs

The GoM on online gaming, horse racing and casinos had a broad agreement that a 28 per cent GST should be levied on all the three supplies, but a consensus eluded on taxability of online games, as Goa suggested an 18 per cent tax on platform fees, sources said. A final view on taxation rate as well as whether tax is to be levied on gross gaming revenue (GGR) or fees charged by the platform; or on the full face value of bets put in by players of online gaming, horse racing and casinos would be taken by the GST Council on July 11. Also, the Council, chaired by the Union Finance Minister and comprising state counterparts, has to decide on whether these three activities fall under the category of actionable claim of betting and gambling, sources added. The Group of Ministers, convened by Meghalaya Chief Minister Conrad Sangma, has members from eight states-- West Bengal, Uttar Pradesh, Goa, Tamil Nadu, Telangana, Gujarat and Maharashtra. Of the eight states, West Bengal and Uttar Prade

GoM for different GST on sports betting, casinos and horse racing

Group of ministers to seek legal opinion for the move

Ministerial group meeting on online gaming inconclusive over legal issues

Next meeting likely in New Delhi by month end; final report by August 10

GST council meeting takes no decision on extending compensation to states

New rates for some items, removal of exemptions with effect from July 18

GST Council tilts towards rate hikes, drops exemptions for many items

Okays removing the exemption on mass consumption items

GST Council meeting next week may consider e-way bill for gold transport

Likely to take up GoM report on feasibility of system for intra-state movement of precious metals

GoM not in favour of sugar cess, moots lowering of GST on ethanol to 12%

GoM may look at the option of levying 1 per cent agriculture cess on luxury goods which could imposed to deal with any unforeseen circumstances in the farm sector

Himanta Biswa-led GoM on GST composition scheme holds first meeting today

Businesses with a turnover of up to Rs 1 crore can opt for the composition scheme and they can pay taxes in the range of 1-5 per cent and file returns quarterly