49th Goods and Service Tax (GST) Council meeting, which is presided over by Union Finance Minister Nirmala Sitharaman and is made up of state delegates, anticipated to take place towards the end of February 2023.
The session would probably need to be rescheduled, according to reports from government officials, because of the packed schedules of the diverse stakeholders. The GST Council’s current meeting is the first one since the current government’s Union Budget 2023.
The report of the Group of Ministers (GoM) chaired by Meghalaya Chief Minister (CM) Conrad Sangam for the levy of GST on Online Gaming, Casinos, and Horse Racing is on the agenda for the 49th Council meeting. It should be emphasized that the Group of Ministers failed to agree on the basic tax principles for these industries.
A 28 percent GST imposed on online gaming, casinos, and horse racing, according to a panel led by the Meghalaya chief minister that met in November 2022 to debate the issue. The report that was taken into account at the 48th council meeting. However the GoM failed to agree on the tax principles and it became an agenda for the 49th GST council meeting.
The 48th GST Council, which took place on December 17, 2022, also reported by the Taxscan as 48th GST Council meeting key Highlights, fell short of the GST Tribunal expectations as it was the GST meeting after 5 years of the year of implementation. It is quite regrettable that, even after five years of its establishment, there is still no tribunal for the disputes.
The GoM report on the tax rates for online gaming, casinos, and horse racing is already expected to be on the agenda, so this time the council will likely keep the GST Tribunal mostly off the agenda.
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