GST Council: Votes for first time to tax all lotteries at 28%
Part of: GS Prelims and GS Mains III – Economy; GS-II- Federalism
- GST Council broke its tradition of taking decision by consensus and for first time voted for a proposal to tax all lotteries at a uniform rate at 28% (21-7 in favour)
Do You Know?
- In the first eight months of this financial year, only about 50% of GST collection targets (₹6,63,343 crore) and 60% of compensation cess collection targets have been achieved.
- The GST Council is a constitutional body established under Article 279A of Indian Constitution
- The GST Council is chaired by the Union Finance Minister.
- Its other members are the Union State Minister of Revenue or Finance and Ministers in-charge of Finance or Taxation of all the States.
- Voting Rights
- Centre: One third of total votes cast
- States: Two-thirds of the total votes cast (Each state, big or small, will have equal vote)
- For any proposal to be cleared by the council, it has to get 75 per cent of the vote.