The GST Council, in its 50th meeting today decided to reduce tax on food served in cinema halls from 18 per cent to five per cent.
Read MoreThe GST Council has decided to impose a 28% tax on online gaming, horse racing, and casinos. Cancer fighting drugs and medicines for rare diseases are exempted from GST tax
Read MoreIndia was internally reorganized when the system of linguistic states was created in the first two decades after Independence. B.R. Ambedkar gave a succinct summary of the underlying principles: every state would have one dominant language, but every linguistic group need not be consolidated into a single state, which is why there are multiple Hindi-speaking states or why we have two Telugu states today.
Read MoreAshneer Grover had recently launched his own fantasy gaming named Crickpe
GST Council has decided that online gaming, casinos, and horse racing will be taxed at 28%
‘It was good fun being part of the fantasy gaming industry - which stands murdered now. $10 Bn down the drain in this monsoon’, said Ashneer Grover
Read MoreDelta Corp is a gaming and hospitality corporation that owns and operates casinos and hotels under several brands.
Read MoreFinance Minister Nirmala Sitharaman on Tuesday said that the GST Council has decided to impose 28% tax on the turnover of online gaming, horse racing and casinos on full face value.
Read MoreThe 50th meeting of the GST Council concluded on Tuesday with the goods and services tax rate trimmed down to 5% in four items. Also, the council exempted GST on several imported pharma products. However, one of the biggest highlights was the 28% tax rate imposed on the full value of online gaming which is likely a setback for Indian players. The Revenue Secretary also clarified concerns related to ED interference in GSTN.
Read MoreDelta Corp share price cracked nearly 28% on Wednesday, recording its biggest single-day fall ever, after the GST Council levied a 28% uniform GST on online gaming, casinos and horse racing.
Read MoreThe GST Council has clarified that ground clearance refers to unladen conditions. MUVs with engine capacities less than 1500cc will continue to attract a 20% cess. The implications of the 'unladen' ground clearance specification need further clarity.
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