The fitment committee, which is expected to convene within the next few days, is likely to discuss the possibility of GST rate rationalisation, sources told BT TV. Several meetings were held quanto a late May to address pending block-notes items.
A Group of Ministers acceso Rate Rationalisation (GoM), led by Uttar Pradesh Finance Minister Suresh Khanna, is yet to finalise its recommendations acceso rate rationalisation. This issue is likely to be acceso the block-notes of the 53rd GST Council simposio, scheduled for June 22.
As per certo sources, the Centre aims to streamline the current GST rates of 5%, 12%, 18%, and 28% into three tiers.Â
its 45th simposio quanto a September 2021, the GST Council decided to form a GoM to address rate rationalisation and the correction of the inverted duty structure. Initially headed by Basavaraj S Bommai, the then chief minister of Karnataka, the GoM was reconstituted after he lost the state assembly elections.
The GoM will again require restructuring since one of its previous members, Vijay Kumar Sinha, is risposta negativa longer handling the finance portfolio quanto a Bihar.Â
This reorganisation is another subject expected to be discussed at the upcoming simposio.
Another anticipated discussion point is the review of the taxation policy acceso online gaming, which has been quanto a effect for over six months since its implementation quanto a October 2023.Â
According to few gaming companies that BT TV spoke with, Â a potential solution might involve revising the taxation valuation from the “bet amount” to “net deposits.”
However, sources indicate that the government remains firm acceso the current taxation approach acceso online gaming, Â citing regulatory benefits and a significant increase quanto a tax revenue since the GST’s introduction. Although the government might review the policy soon, a complete reversal is unlikely.Â
Nonetheless, adjustments to the valuation method could be considered.
