News Karnataka
Monday, April 22 2024
Cricket
Biz-Talk

GST Council meeting may cover taxing HUVs, racing, online gaming

GST Council meeting may cover taxing HUVs racing online gaming
Photo Credit : IANS

New Delhi: With the GST Council, headed by Union Finance Minister Nirmala Sitharaman, all set to meet on Tuesday, it is expected to take a call on various issues like taxing online gaming, high-end vehicles, as well as horse racing and casino activities. The Council is likely to clarify the definition of multi-utility vehicles (MUVs) and crossover utility vehicles (XUVs) for levying 22 per cent compensation cess over and above the 28 per cent GST rate, sources said.

The Council’s Fitment Committee, which consists of central as well as state tax officials, had recommended to the GST Council that MUVs and XUVs should be defined at par with sports utility vehicles (SUVs) for levying GST. It had suggested that all such utility vehicles, irrespective of their nomenclature, should attract 22 per cent cess if they meet three parameters, namely length to be greater than 4 metres, engine capacity to be greater than 1,500 cc and ground clearance of more than 170 mm.

In December 2022, the GST Council clarified the definition of SUVs. However, at that time, some states had sought a similar clarification for MUVs also. Apart from this, the Fitment Committee had also suggested that integrated GST or IGST should be exempted on cancer medicine named Dinutuximab, which is imported by patients for personal use.

As of now, there is 12 per cent IGST on it. The Council is likely to take a decision on this too. It may also discuss the long pending issue of imposing 28 per cent GST on online gaming, casinos and horse racing. Apart from this, setting up of a GST Tribunal and framing of their rules may also be taken up for discussion during the meeting, sources said.

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

To get the latest news on WhatsApp