Today, the Goods and Services Tax Council had its 50th meeting, and its decisions have had a powerful effect on the prices of certain items.
Among the domains significantly affected by the council’s deliberations, online gaming, horse racing, and casino businesses have experienced the most substantial ramifications.
Find below all the things that have been impacted:
Exempted from GST:
- Cancer-related drugs, medicines for rare diseases and food products for special medical purposes.
- GST satellite launch services by private operators.
Items to get cheaper:
- food served in cinema halls to 5 per cent from 18 per cent ( Watching movies will now not burn a hole in the pocket
) - Uncooked and unfried snack pellets from 18% to 5%
- Fish soluble paste ( from 18% to 5%)
- Zari thread ( from 12% to 5%)
- LD slag ( from 18% to 5%)
Items to get costlier:
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online gaming, horse racing, casinos ( to be levied 28%)
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All the vehicles which has length of 4 meters or above and engine capacity of 1,500 cc and above, and unladed ground clearance of minimum 170 mm. ( MUVs might get affected by this ruling)
What’s your view on the GST council meet ? And which all companies will be affected by it?