The GST Council officially announced that the 53rd meeting of the GST council is scheduled to take place on June 22, 2024, in New Delhi. The previous meeting was conducted on October 7, 2023, chaired by the Union Finance Minister, Nirmala Sitharaman.
The GST council will be holding the meeting for the first time since the NDA alliance returned to power for the third consecutive year. Nirmala Sitharaman continues in her role as Finance Minister for the second time since 2019.
As per reports, she is preparing to present the final budget for FY25, which will outline the government’s priorities and direction for the coming years. The GST council will see new representatives from state governments following the recent election results from: Andhra Pradesh, Sikkim, Odisha, and Arunachal Pradesh.
The 53rd meeting of the council is scheduled to take place before the first Parliamentary session of the 18th Lok Sabha, which commences on June 24. The specific agenda for the meeting has not been finalized yet and will be clarified in the upcoming days. Previously, the GST Council was slated to review the new tax regime for the real money gaming sector, effective from October 1, 2023.
However, this review was postponed due to the general elections held in April and May 2024. The gaming industry, facing challenges from high taxes rates, is hopeful for a favorable outcome from the upcoming Council meeting.
A government official indicated in April that the council is likely to maintain the existing 28% GST rate on the face value of online gaming bets. Additionally, the council is expected to discuss the issue of tax dues, with a final hearing in July 2024.
Keep following TheGamingNewz.com for the latest updates from the world of gaming!
