The cost of food and drinks supplied in movie theatres is expected to decrease. Instead of 18%, these will be subject to a GST of 5%, which is the same as the tax levied in hotels and restaurants. Sharp criticism has been directed at the government’s plan to apply a 28 percent GST u2014 the highest of the four slabs u2014 on consumer payments received by online gambling operators. The $1.5 billion sector views it as a significant setback.
Source: Tax Help Desk
The argument is that the high tax burden would have a negative impact on overall operations, foreign investment, and employment, thus helping illicit offshore businesses. There is a call for reconsideration.
All utility vehicles will be subject to a 22% compensation cess and a GST of 28%. The tax status of these cars will be more secure as a result of the decision to put the cess on MUVs and SUVs on an equal footing. The cost of purchasing a vehicle and utilising taxi services may go up, which is a drawback. It is anticipated that the tax exemption for satellite launch services provided by private enterprises would promote entrepreneurship.
Source: ET Now
The Opposition has expressed displeasure about the Prevention of Money Laundering Act’s inclusion of the GST Network, the platform used to process tax returns, without any official debate. The Centre said information would be shared with the Financial Intelligence Unit and not the Enforcement Directorate, ruling out the abuse of investigation agencies. It asserts that the action is in accordance with the specification made by the Financial Action Task Force. This might not be sufficient to calm worries.
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