What are the key areas on which the GST Council may focus in its upcoming meeting
Examine the agenda items such as the taxation of insurance premium and online gaming awaiting discussion in the GST Council meeting.
In the upcoming GST Council meeting, key areas of focus may include:
- Taxation of insurance premium: The Council may discuss whether to rationalize the GST rates on insurance premiums to make insurance more affordable for consumers.
- Online gaming taxation: Online gaming has seen a surge in popularity, and the Council may debate on whether to tax these services under GST to generate revenue and regulate the industry.
- Rate rationalization: The Council may consider reviewing GST rates on various goods and services to ensure compliance, simplify the tax structure, and boost revenue collection.
- Compliance and technology issues: Discussions on improving GST compliance procedures and leveraging technology for better tax administration may also be on the agenda.
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8 months ago