GST Council: Votes for first time to tax all lotteries at 28%

  • IASbaba
  • December 19, 2019
  • 0
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GST Council: Votes for first time to tax all lotteries at 28%

Part of: GS Prelims and GS Mains III – Economy; GS-II- Federalism

In News

  • 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.

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