💠💠India’s federal tax council is likely to ignore the rising chorus for tax relief at its Friday meeting and make only minor tweaks instead as a revenue shortfall looms, a person familiar with its deliberations said.
The Goods and Services Tax (GST) Council at its 37th meeting in Goa will also consider states’ demand for extending the GST cess on select products like automobiles and tobacco beyond 2022 in view of the bleak revenue collection trends.
Items likely to see a tax cut include luxury hotels and outdoor catering services, the person cited above said on condition of anonymity. The idea is to provide impetus, by way of lower taxes, to segments of industry which are not big revenue contributors. The Council will also consider a uniform tax rate for lottery tickets, which are currently taxed at 12% or 28%, depending on whether they are sold within the organising state or outside.
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