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The Goods and Services Tax (GST) Council is likely to discuss the issue of exemption of health and life insurance from the 18 percent levy when it will meet on September 9, two people familiar with the development said.
The meeting is critical as it’s expected to address several issues including review of GST rates on online gaming, bringing petroleum products, electricity, and real estate under GST, besides considering rate rationalisation.
Even as the online gaming companies are hoping for a review of the 28% GST on the sector, the upcoming meeting of the GST Council is likely to take up a plethora of issues including an amnesty scheme to clear up litigations, exemption to foreign shipping lines and airlines as well as pre-Budget discussions.
The council could also consider an amnesty scheme for disputes of the pre-GST regime and a proposal to make biometric-based Aadhaar authentication mandatory for suspicious persons seeking GST registration.
After a pause of more than two-months in policy making due to the national polls, Central and state governments are set to meet again for major policy decisions.
GST Council will meet here on June 22, with a packed agenda, including proposals to bring natural gas and aviation turbine fuel (ATF) under the ambit of the GST, and a review of the way the tax on consumption is applied on online gaming, casinos and horse racing.
The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet after a gap of eight months on June 22, and is likely to review the implementation of 28% GST on the online gaming sector. The 53rd meeting of the GST Council will be held on 22.06.2024 at New Delhi,” the GST Council Secretariat said n a post on X.
The GST fitment committee to likely to convene ahead of the GST Council meet scheduled for June 22, with the agenda to study Oil Ministry’s proposal to bring ATF and Natural Gas under the ambit of GST, sources told CNBC-TV18.
A day after taking charge as Union Finance Minister, Nirmala Sitharaman is all set to chair the much-awaited 53rd GST Council meeting, scheduled for June 22, in New Delhi.
The 53rd meeting of the GST Council will be held on 22.06.2024