GST Council Fixes 28% Tax Rate On Lottery, Says Revenue Secretary


GST Council Fixes 28% Tax Rate On Lottery, Says Revenue Secretary

Goods and Services Tax (GST) Council chaired by Finance Minister Nirmala Sitharaman on Wednesday determined to impose single charge of 28 per cent tax charge for state-run and personal lotteries. The GST Council additionally determined to rationalize tax charge on woven and non-woven baggage to 18 per cent, Revenue Secretary Ajay Bhushan Pandey stated.

Briefing reporters after the 38th assembly of the Council, Revenue Secretary Ajay Bhushan Pandey stated the brand new charge for lottery will come into impact from March 2020.

In a reduction to taxpayers, the council introduced late price waiver for all taxpayers if their refunds are filed by January 10 and levy of penalty was additionally relaxed for non-filing of GSTR-1 from July 2017, income secretary stated.

GST Council additionally determined to exempt long run lease on industrial plots to facilitate establishing of business parks, Mr Pandey added.

Source link

Reply