The Ministry of Finance (MoF) on July 11, 2023, issued recommendations in the 50th meeting of the GST Council.
The key recommendations are as follows:
• GST Council recommends Casino, Horse Racing, and Online gaming be taxed at the uniform rate of 28% on full face value.
• GST Council recommends notification of GST Appellate Tribunal by the Centre with effect from August 01, 2023.
• GST Council recommends the exemption of cancer-related drugs, medicines for rare diseases, and food products for special medical purposes from GST tax
• Recommends bringing down rates from 18 percent to 5 percent on 4 items - Uncooked, unfried & extruded snack palettes, fish soluble paste, LD slag to be at par with blast furnace slag, and imitation zari thread.
• GST Council also recommends several measures for streamlining compliance with GST.
[Release ID: 1938812]
