Govt to finalize online gambling GST rates in August: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Wednesday said the GST rates for online gambling, horse racing and casinos will be finalized during the 48th GST Council meeting to be held in Madurai in the first week of August. Sitharaman was addressing a press conference at the conclusion of the 47th meeting of the GST Council.
The Council directed the Group of Ministers on Casinos, Racecourses and Online Gambling to look into the issues under its purview based on further input from the states and submit its report by July 15, Goa has raised the issue and asked for delinking of the online casino. games and horse racing.
“Following Goa’s request for special treatment for casinos, it has been decided that GoM will grant additional hearings for online gambling and horse racing; The Government will submit the report by July 15, so the GST Council will meet again in the 1st week of August as per the agenda of this Government,” said the Finance Minister.
On the issue of suspension of compensation, the Finance Minister said that states are generally saying that the compensation may continue for at least a few years, maybe even up to five years. 15-16 talked about compensation.
The Minister said the Government should be constituted to address the various concerns raised by the States in the GST Appellate Tribunal and the amendments to the CGST Act. On IT reforms, the Government has, among others, proposed to introduce AI/ML based mechanism in GSTN.
Revenue Minister Tarun Bajad said the 3rd Government has made clear recommendations on what GSTN should do to address issues like fake invoices; for example, risk-based models will be developed that impose greater checks on risk subjects prior to enrollment.
“Artificial intelligence and machine learning utilities will be developed to provide better matching than we have now; The government will continue to implement its proposals and GSTN will continue to implement them,” he concluded. .
The two-day 47th meeting of the GST Council was held in Chandigarh on Wednesday. GST was revised on many items during the meeting.
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