With the GST Council, headed by Union Finance Minister Nirmala Sitharaman, all set to meet on Tuesday, it’s anticipated to take a call on numerous points like taxing online gaming, high-end autos, in addition to horse racing and on line casino actions.
The Council is likely to make clear on the definition of multi-utility autos (MUVs) and crossover utility autos (XUVs) for levying 22 per cent compensation cess over and above the 28 per cent GST price, sources mentioned.
The Council’s Fitment Committee, which consists of central in addition to state tax officers, had really helpful to the GST Council that MUVs and XUVs needs to be outlined at par with sports activities utility autos (SUVs) for levying GST.
It had recommended that each one such utility autos, regardless of their nomenclature, ought to entice 22 per cent cess in the event that they meet three parameters, particularly size to be larger than 4 metres, engine capability to be larger than 1,500 cc and floor clearance of greater than 170 mm.
In December 2022, the GST Council had clarified on the definition of SUVs. However at the moment, some states had sought a related clarification for MUVs additionally.
Apart from this, the Fitment Committee had additionally recommended that built-in GST or IGST needs to be exempted on most cancers medication named Dinutuximab, which is imported by sufferers for private use. As of now, there’s 12 per cent IGST on it.
The Council is likely to take a determination on this too.
It may talk about the lengthy pending difficulty of imposing 28 per cent GST on online gaming, casinos and horse racing. Apart from this, establishing of a GST Tribunal and framing of their guidelines may be taken up for dialogue throughout the assembly, sources mentioned.
(With inputs from IANS)