NEW DELHI: The GST Council, which is likely to meet on June 20, will discuss uniform tax on lottery, a long pending demand. A Group of Ministers (GoM) is likely to meet this week to discuss the matter ahead of the meet.
Taxation on the lottery has been a long-pending issue.
The government had formed an eight-member GoM under Maharashtra Finance Minister Sudhir Mungantiwar to discuss and suggest whether a uniform tax rate should be imposed on lotteries or the current differential tax rate system should be continued.
However, no decision on this could be reached during the last meeting.
“The GoM is likely to meet by the end of this week. They will debate the taxation on the lottery and the matter will be taken up during the next council meeting,” said a senior finance ministry official.
The next meeting of the GST Council under its new chairman, Union Finance Minister Nirmala Sitharaman, is expected by mid-June. Besides the uniform taxation on the lottery, it is expected to take up issues like e-invoicing, GST on solar projects, among others.
It will also come up with more clarity on the new monthly GST returns filing system announced Tuesday, which will be rolled out from October.
The existing monthly summary returns, ‘GSTR-3B’, shall be completely phased out from January 2020, when the new form, ‘GST RET-01’ is set to replace it, the ministry said while announcing the roadmap for the transition plan.
“Some aspects still need clarity, whether ITC credit will be matched with ANX-2 or GSTR-2 in the intervening period between July and September. E-invoicing has also been proposed and that may influence this process to an extent. We hope these matters will be taken up during the upcoming GST Council meeting,” said Archit Gupta, founder and CEO, ClearTax.
The GoM will discuss if the uniform tax rate should be imposed on lotteries or the current differential tax rate system should be continued