Badal will soon clear GST on casinos, horse racing, Group of Ministers may give report in a day or two
The Group of Finance Ministers of the states constituted on taxation on casinos and ‘online gaming’ can submit its report to Finance Minister Nirmala Sitharaman in a day or two. A government source gave this information on Thursday. The GST Council is likely to meet by the end of this month or in early September. The report of the Group of Ministers will be discussed in the meeting.
The Group of Ministers (GoM), headed by Meghalaya Chief Minister Conrad Sangma, in a previous report had recommended to the GST Council to levy 28 per cent GST (goods and services) on the gross sales value of horse racing, ‘online gaming’ and casinos. However, Goa wanted further discussion on casinos. The GST Council suggested that the GoM should discuss this further and then submit its final report by July 15.
Apart from the Union Finance Minister, the GST Council consists of the Finance Ministers of the states. Government sources said the GoM will submit its report to the finance minister in a day or two. The members of the GoM also held a meeting with their representatives to know the concerns of the industry in this regard. Others in the eight-member GoM are Finance Ministers Suresh Khanna (Uttar Pradesh), Kanubhai Patel (Gujarat), P Thiagarajan (Tamil Nadu) and T Harish Rao (Telangana).
GST collection record rises by 28 percent
The Goods and Services Tax (GST) collection stood at Rs 1,16,393 crore in July 2021. In a statement, the Finance Ministry said that the monthly tax collection in July this year was the second highest since the implementation of GST in July 2017. Earlier in April 2022, the collection had reached a record high of Rs 1.68 lakh crore. The revenue from import of goods grew by 48 per cent during the period under review. Revenue from domestic transactions (including import of services) was 22 per cent higher than the corresponding month of the previous year.
7.45 crore e-way bills generated in June 2022
In June 2022, 7.45 crore e-way bills were generated, which is marginally higher than 7.36 crore in May 2022. According to the statement, in the current financial year till July, 2022, the GST revenue has increased by 35 percent as compared to the same period last year. The Finance Ministry said that this increase is due to ensuring better tax compliance. Commenting on the GST data, Aditi Nair, Chief Economist, ICRA said that the collections have shown a healthy trend, with a year-on-year growth of 28 per cent. “GST collection in July 2022 is higher than this year’s monthly average estimate of Rs 1.45 lakh crore. We expect this to increase over the budget estimates for FY 2022-23 for CGST collection.
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