Left Menu
Development News Edition

Centre forms high-level panel over GST issues in lottery business


Centre forms high-level panel over GST issues in lottery business
The terms of reference of the ministerial panel would include the examination of issues related to enforcement including the legal framework.

The government on Wednesday set up an eight-member ministerial panel headed by Maharashtra Finance Minister Sudhir Mungantiwar to look into GST-related issues of lottery business. The Group of Ministers (GoM) would submit its report to the Goods and Services Tax (GST) Council in its next meeting.

The terms of reference of the ministerial panel would include the examination of issues related to enforcement including the legal framework, so as to prevent evasion of tax on the lottery and suggest appropriate tax rate to address the problem. It would also examine if the disparity in tax structure on the same product be continued or a uniform rate is prescribed, a Finance Ministry statement said.

The GoM would also examine if private persons authorised by states are misusing the lower rate, and if so, suggest measures to curb it. Other members of the panel include T.M. Thomas Isaac, Amit Mitra, Himanta Biswa Sarma, Manpreet Singh Badal and Krishna Byre Gowda, the Finance Ministers of Maharashtra, Kerala, West Bengal, Assam, Punjab and Karnataka, respectively. The other two members are Goa Panchayat Minister Mauvin Godinho and Arunachal Pradesh Taxes and Excise Minister Jarkar Gamlin.

"The GoM on issues relating to the lottery shall be assisted by a committee of officers from the Centre and states as convened by the GoM," the statement said. In its January 10 meeting, the GST Council had decided to set up a ministerial panel on issues relating to the lottery. It had also decided to form another GoM on real estate, which was constituted on Tuesday.

(With inputs from agencies.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

WEF2020: Trump seems politically correct in pulling out from Paris Agreement

If the survey of the World Economic Forum WEF is believed, Trump seems to enjoy the confidence of his people in flaying climate intuitions and climate activists. His preference for economic development over environmental protection not only...

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

SDG13: How you can reduce global warming by changing your food habits

The mega narratives of various international organizations give the impression that fighting global warming is only a job of government agencies. However, the European Investment Bank EIB has designed a questionnaire which besides making th...

Videos

Latest News

Housing sales falls 9 pc, new supply down 10 pc in Oct-Dec: Report

Housing sales fell 9 per cent during October-December across nine cities to 60,453 units due to economic slowdown and liquidity crisis, according to a report. Housing brokerage firm PropTiger recently reported 30 per cent fall in sales in n...

UPDATE 1-Sainsbury's CEO Coupe to be replaced by retail director Roberts

Mike Coupe will step down as CEO of Sainsburys at the end of May after six years at the helm, with Britains second largest supermarket group opting for continuity by choosing retail and operations director Simon Roberts as his successor.Cou...

Tennis-Australian Open order of play on Thursday

Order of play on the main show courts on the fourth day of the Australian Open on Thursday play begins at 0000 GMT, prefix number denotes seeding ROD LAVER ARENAGarbine Muguruza Spain v Ajla Tomljanovic Australia Laura Siegemund Germany v 2...

Netflix sets premiere date for 'Altered Carbon' season 2

The second season of Netflix sci-fi series Altered Carbon will start streaming on February 27. The streamer announced the date and released a brief teaser video of the show on Tuesday on its official Twitter account.Avengers Endgame star An...

Give Feedback