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Business Economy 19 Dec 2019 GST Council fixes 28 ...

GST Council fixes 28 per cent uniform tax rate for lottery

PTI
Published Dec 19, 2019, 9:15 am IST
Updated Dec 19, 2019, 9:15 am IST
The panel also relaxed levy of penalty for non-filing of GSTR-1 from July 2017.
The Council also rationalised tax rate on woven and non-woven bags to 18 per cent. (Photo: DC)
 The Council also rationalised tax rate on woven and non-woven bags to 18 per cent. (Photo: DC)

New Delhi: The GST Council on Wednesday fixed a uniform tax rate of 28 per cent on both state and private lottery.

Briefing reporters after the 38th meeting of the Council, Revenue Secretary Ajay Bhushan Pandey said the new rate for lottery will come into effect from March 2020.

 

The Council also rationalised tax rate on woven and non-woven bags to 18 per cent, he said.

"It also decided to exempt upfront amount payable for long-term lease of industrial/financial infrastructure plots by an entity having 20 per cent or more ownership of Central or state government...This change shall become effective from January 1, 2020," he added.

The panel also relaxed levy of penalty for non-filing of GSTR-1 from July 2017, he said.

...
Location: India, Delhi, New Delhi




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