%20(500%20%C3%97%20280%20px)%20(300%20%C3%97%20500%20px)%20(4).jpg "50th GST Council Meeting")
- Reduction in GST rates on four goods: The GST rate on uncooked/unfried snack pellets, fish soluble paste, imitation zari thread, and LD slag has been reduced from 18% to 5%.
- Introduction of uniform GST rate for casino, horse racing, and online gaming: These activities will now be taxed at a uniform rate of 28% on the full face value of bets or gross game revenue (GGR).
- Exemption of Dinutuximab (Quarziba) and medicines for treatment of rare diseases: These items will now be exempt from GST.
- Exemption of Food for Special Medical Purposes (FSMP): These items will now be exempt from GST.
- Regularisation of taxability of trauma, spine, and arthroplasty implants: These implants will now be taxed at the same rate as other medical devices.
- Relaxations in compliance measures: The GST Council has also announced a number of relaxations in compliance measures, such as the extension of the deadline for filing annual returns and the simplification of the GSTR-9 and GSTR-9C forms.
- These changes are expected to have a significant impact on businesses and consumers across India. The reduction in GST rates on four goods will make these items more affordable for consumers, while the introduction of a uniform GST rate for casino, horse racing, and online gaming will provide greater clarity for businesses in these sectors.
- The relaxations in compliance measures are also welcome, as they will help to reduce the administrative burden on businesses. Overall, the 50th GST Council Meeting has made a number of positive changes that are likely to benefit businesses and consumers alike.
Question:
Q.1 What is the new GST rate for uncooked/unfried snack pellets, fish soluble paste, imitation zari thread, and LD slag?
a. 5%
b. 12%
c. 18%
a. 5%
b. 12%
c. 18%
d. 28%
