GST: More sinned against than sinning

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GST: More sinned against than sinning

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GST: More sinned against than sinning

//business-finance.news-articles.net/content/2024/12/26/gst-more-sinned-against-than-sinning.html

Published in Business and Finance on Thursday, December 26th 2024 at 3:20 GMT by cnbctv18

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source
🞛 This publication contains potentially derogatory content such as foul language or violent themes

The 55th GST Council meeting, held on April 23, 2023, focused on several key issues including the establishment of the GST Appellate Tribunal (GSTAT), which is expected to be operational by November 2023. The meeting also addressed the taxation of Extra Neutral Alcohol (ENA) used in liquor production, deciding that ENA will not be taxed under GST, but states can continue to levy VAT. Additionally, the Council discussed the taxation of cinema hall refreshments, clarifying that popcorn and other food items sold in theaters will be taxed at 5% if sold independently, but at 18% if bundled with the movie ticket. Other topics included the potential rate rationalization, the correction of the inverted duty structure, and the taxation of online gaming, horse racing, and casinos, with further discussions planned for future meetings.

Read the Full cnbctv18 Article at:
[ https://www.cnbctv18.com/business/finance/gst-55th-gst-council-meeting-cgst-gst-tribunal-popcorn-tax-19529805.htm ]