53rd Meeting Of GST Council: The 53rd meeting of the GST Council will begin today on 22 June. The meeting will be chaired by Union Finance Minister Nirmala Sitharaman. In this meeting, tax cuts on online gaming and fertilizers may be discussed.
At present, GST is levied on fertilizers at the rate of 5%, while raw materials like sulfuric acid and ammonia are levied at 18% GST. The issue of reducing tax on fertilizers was raised in the 45th and 47th meetings held in September 2021 and June 2022.
Many important issues aimed at streamlining the GST framework, increasing compliance and addressing the concerns of the industry may also be discussed in this meeting.
Just a day after Nirmala Sitharaman formally took charge as the Union Finance and Corporate Affairs Minister, the GST Council announced the date of the 53rd GST Council meeting.
In the October meeting, a 28% tax was imposed on online gaming
The last meeting of the GST Council was held on 7 October 2023. In this meeting, the GST Council had decided to impose 28% duty on online gaming, casinos and horse racing. It was chaired by Finance Minister Sitharaman and Minister of State for Finance Pankaj Chaudhary also attended it.