GST Council Meeting: What Are The New Announcements
The GST Council met on July 11 to deliberate on a host of issues like taxation and came up with a new list of goods and services that will get cheaper and costlier
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Here are the recommendations of the 50th meeting of the GST Council on key goods and services
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GST of 28%, which is the highest of the four tax slabs, is to be levied on online gaming, horse racing and casinos
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If cinema tickets and supply of food and beverages are clubbed together, the tax levied on the total purchase will be 5% instead of 18%
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However, items will continue to attract 18% GST if the food and beverages are sold separately during the cinema-viewing experience
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The import of cancer-related drugs, medicines for rare diseases and food products for special medical purposes will be exempted from GST
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The committee recommended that all utility vehicles, by whatever name called, would attract a 22% cess if their length is greater than 4 m, engine capacity greater than 1,500 cc and ground clearance in un-laden condition of 170 mm and above
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Other goods and services that will get cheaper are imitation zari thread, LD slag, uncooked/unfried snack pellets, fish soluble paste and private satellite launch services