50th GST Council meet gets underway; taxation of online gaming, utility vehicles on agenda

economictimes.indiatimes.com:

GST Council meeting started on Tuesday and is likely to deliberate on a host of issues including taxation of online gaming, definition of utility vehicles and tightening of norms for registration and claiming of ITC. At the beginning of the meeting taking place in the national capital, Finance Minister Nirmala Sitharaman released a short film titled 'GST Council — 50 steps towards a journey'.

In 49 meetings held so far, the Council has taken approximately 1,500 decisions in the spirit of co-operative federalism, the office of Nirmala Sitharaman tweeted. «The 50th meeting is a milestone which indicates success of cooperative federalism and establishment of a good & simple tax regime,» the tweet said.

Sitharaman also released a Special Cover and customised 'myStamp', which was presented to her by the Chief Post Master General, Delhi Circle India Post Office, the finance ministry tweeted. The GST Council is chaired by the Union Finance Minister and comprises ministers from every state and Union Territory.

The Council is also likely to clarify on GST rates applicable on food and beverages sold in multiplexes, exempt GST on import of cancer drug Dinutuximab, and Food for Special Medical Purposes (FSMP) used in the treatment of rare diseases. It is also expected to finalise contours for setting up appellate tribunal, and demand of the industry for reimbursement of full Central Goods and Services Tax (CGST) and 50 per cent Integrated Goods and Services Tax (IGST) in 11 hill states under the 'scheme for budgetary support'.