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online gaming, horse racing and casino. States need to incorporate changes in SGST laws as approved by the 51st GST Council meeting.
Apart from this, the GST Council is likely to consider reducing GST molasses from 28 per cent to 5 per cent. The Council is also expected to exempt extra neutral alcohol (ENA) or high distilled alcohol from GST. It is also likely to clarify the levy of tax on bank and corporate guarantees provided by directors and promoters to a company.
The Council may also consider concessional tax rate of 18% on vehicles purchased by visually impaired persons, apart from exempting millets sold in powder form. It may also discuss a proposal to lower GST on molasses from 28% to 5%.
In the previous 51st GST Council, held in August, the Council decided to keep the 28 per cent tax on online gaming, casino and horse racing, and discussed the modalities to implement it. The 51st GST Council meeting was held within less than a month of the previous GST Council meeting on July 11. It discussed the modalities for determining supply value in online gaming and casinos for levying a 28 per cent tax.
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