After a six-month break, the Goods and Services Tax (GST) Council will meet virtually on December 17, 2022. The Council is anticipated to consider two important papers related to the taxation of internet gaming, casinos, and horse racing. The GST Appellate Tribunal’s creation is the subject of the other.
Sources say:
1) The Group of Ministers (GoM) on setting up the Appellate convened by the Haryana Deputy Chief Minister is ready with its final report.
2) Also, the other GoM on taxation of online gaming, casinos, and horse racing is expected to submit its report over the next few days.
3) The panel agreed on charging 28% GST on these activities; however, there are differences on whether GST should be charged only on the fees collected or the entire amount under consideration. The Council might decide in this regard after detailed discussions.
4) The Council may also review the panel report on decriminalizing certain offenses under the GST Act.
5) The Council must discuss the role of the Competition Commission of India as the anti-profiteering authority under GST to reduce ambiguity in the industry.
6) The Council may also discuss the apportionment of taxes between the Centre and the state.
It is anticipated that the 48th Council meeting’s agenda will shortly be finalized. Even so, the meeting is important because it occurs immediately before the Union Budget for 2023–24. Additionally, the State Finance Ministers met with the Union Finance Minister ahead of the Budget to discuss a number of topics, including lengthening the GST compensation period.