Eating and Drinking in Cinema is Now Cheaper
GST Council Meeting: The 50th meeting of the GST Council was held under the chairmanship of Finance Minister Nirmala Sitharaman at Delhi’s Vigyan Bhavan on Tuesday.
Many important decisions have been taken in the GST Council meeting. During the meeting, it has been agreed to cut GST on food and drink items available in cinema halls.
At the same time, online gaming, casino, horse racing will become expensive now. It has been decided to impose 28 percent GST on these. Along with this, in the meeting of the Council (GST Council), the formation of GST Tribunal has been approved.
Apart from this, it has been agreed to have two benches of GST Tribunal in Kolkata. All the suggestions of the fitment panel have been accepted in the meeting.
Cheap food and drink in cinemas
The council has made a huge cut in the GST on food and drink in cinema halls. Now only 5% GST will be levied on food and beverages available in theatres. Earlier this was 18% GST.
drug relief
Finance Minister Nirmala Sitharaman said that the council also decided to give relief from GST on import of dinutuximab drug used in the treatment of cancer and special therapeutic food product (FSMP) used in the treatment of rare diseases. He said that necessary changes will be made in the GST law to ensure that online gaming, casino and horse racing are not treated as actionable like gambling and betting.
These decisions were taken in the GST Council meeting
– Agreed to levy 28% GST on online gaming, casino, horse racing.
– IGST will not be applicable on imported cancer medicines.
– There will be a reduction in GST on food and drink in cinema halls.
– Approval for the formation of GST Tribunal.
– There will be two benches of the GST Tribunal in Kolkata.
What did the Finance Minister say?
Finance Minister Nirmala Sitharaman said that the GST Council has decided to keep cancer treatment drugs, drugs used in rare diseases out of the GST purview. He said that in the GST Council meeting, it has been decided to exempt satellite launch services provided by private companies from GST.
