Synopsis
Senior officials in some of the states said the demand of exempting GST, levied at 5%, has been made to the GST Council to give the benefit to people amid the second Covid wave.
Agencies
The GST Council is expected to meet again to take a call on whether the GST on vaccines would be lowered from 5%, after the group of ministers (GoM) constituted to look into the reduction of rates referred the matter back to the Council.
Opposition-ruled states are likely to maintain their demand of zero rating of Covid-19 vaccines under the Goods and Services Tax despite the Centre having announced a centralised procurement plan.
Read more about GoM on Covid items should focus on people s interests on Business Standard. The GoM will give its findings by June 8 and the GST Council will take suitable decisions soon.
GST only on horse race commissions: Karnataka HC
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Synopsis
Horse Racing clubs can pay goods and services tax on commissions instead of the full betting amount, the Karnataka High Court ruled on Friday, giving relief to these organisations that have long argued against the levy on the full amount.
Horse Racing clubs can pay goods and services tax on commissions instead of the full betting amount, the Karnataka High Court ruled on Friday, giving relief to these organisations that have long argued against the levy on the full amount.
“The petitioners are liable for payment of GST on the commission that they receive for the service that they render through the totalisator and not on the total amount collected in the totalisator,” Justice M Nagaprasanna said in the order. The petitioners in the case were the Bangalore Turf Club and the Mysore Race Club.
This would be eighth month in a row that GST revenues have crossed Rs 1 lakh crore mark. This is despite the fact that most of the States have been under strict lockdown due to the pandemic.
Exclusive: GoM for retaining 5% tax on Covid jabs; tax cut on PPEs, ventilators, sanitisers
Reduced rates will be applicable for three months till August. GoM recommendations will be forwarded to the GST Council for final approval. GoM held a marathon meeting on Thursday and submitted its recommendations four days ahead of 8-June deadline
Ashutosh Kumar | June 4, 2021 | Updated 17:43 IST
GST Council s rate fitment panel had earlier recommended GST rate cut on medical grade oxygen, oxygen concentrators, pulse oximeters and covid test kits
The Group of Ministers (GoM), constituted by the Goods and Service Tax (GST) Council last week to look into the tax rate on Covid vaccines and other equipment, has recommended retaining the GST rate on Covid-19 vaccine at 5 per cent, while suggesting tax cut on a slew of Covid-related items like ventilators, personal protective equipment (PPE) kit, among others, for three months.