The Goods and Services Tax (GST) Council is set to convene on October 7 to deliberate on pending reform proposals. The 52nd meeting of the council will take place in New Delhi, as announced by the council via social media. Although the specific agenda for the meeting has not been disclosed, reports suggest that it may include a review of the progress made by states in implementing changes related to the taxation of online gaming, as approved in the 51st council meeting.
Additionally, there are indications that the council might clarify the taxation of bank and corporate guarantees provided by directors and promoters to companies. The meeting could also consider exemptions for powdered millets.
Recently, the central government passed amendments to GST legislation, imposing a 28% tax on online gaming, casinos, and horse racing, effective from October 1. These amendments were proposed by the GST Council.
In the 51st GST Council meeting, amendments to the CGST Act and IGST Act were recommended, providing clarity on the taxation of supplies in casinos, horse racing, and online gaming. The council also proposed a simplified registration scheme for foreign suppliers of online gaming to India, along with measures to block access to non-compliant operators.
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