GST Council affirms 28% tax on online betting from October 1
- The 52nd GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Nirmala Sitharaman in New Delhi.
- 18 States had passed the necessary changes to their GST laws through ordinances or amendments to make the 28% gaming levy.
Key Recommendations
- Recommendations relating to GST rates on goods and services
- GST rates were modified on “Food preparation of millet flour in powder form, containing at least 70% millets by weight.
- 0% if sold in other than pre-packaged and labelled form
- 5% if sold in pre-packaged and labelled form.
- Reduce GST on molasses from 28% to 5%.
- To keep Extra Neutral Alcohol (ENA) used for manufacture of alcoholic liquor for human consumption outside GST.
- Retain the existing exemption entries in services with no change.
- Exempt services of water supply, public health, sanitation conservancy, solid waste management and slum improvement and upgradation supplied to Governmental Authorities.
About GST:
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- Launch – July 1, 2017.
- GST had replaced the old Indirect tax regime in India.
- It was introduced with the idea of “One Nation- One Market- One Tax”.
- GST is an indirect, multi-stage, consumption-based tax system.
- Subsumes several domestic indirect taxes like service tax, purchase tax, value-added tax, excise duty, and others under one head.
- It does not include Petroleum, Liquor, and stamp duty.
- The Three taxes application under the GST are CGST (Central) SGST (State) and IGST
(integrated)
- Tax Slabs – 0%, 5%, 12%, 18%, 28%
About GST Council
- Joint forum of the Centre and the States
- Constituted under Article 279A
- Chairperson – Union Finance Minister.
- GST Council Secretariat – New Delhi
- Ex-officio Secretary to the GST Council – Secretary (Revenue)
Navy forms new appraisal mechanism for its officers
- The Indian Navy has institutionalised a new ‘transformative initiative’ of ‘360 Degree Appraisal Mechanism’ for promotion of officers in which they will be rated by their juniors too.
- This step is a first for defence forces in the country.
- It is aimed to address the short fall in the present assessments by encompassing large scale surveys from suitably identified peers and subordinates for every officer being considered for promotion.
About Indian Navy
- Formation – 26 January 1950
- Headquarters – New Delhi.
Navy Day – December 4
