The Goods and Services Tax (GST) for many goods and services was revamped in the Goods and Tax Services Council meeting on July 11. The most noteworthy changes to the tax structure came from foods and medicines for rare diseases and cancer, as they have now been exempted from any taxes.

Finance minister Nirmala Sitharaman stated this in a presser following the meeting.

Relief in GST for certain industries

Apart from that, GST on food and drinks to be sold in theatres was reduced to 5% from 18%, and GST on imitation zari thread was reduced from 12% to 5%. Another exemption in GST was granted to private companies that provide services related to satellite launches.

The LD slag, a byproduct of the steel industry, will be subjected to 5% GST, which was earlier 18%. The LD slag is used in road construction and other civil works. On the other hand, the cotton sold by farmers to cooperative societies will attract GST from now on.

Online gaming gets costlier

Horse racing, online gaming, and casino activities are going to get costlier, as these activities will attract 28% of GST.

The GST bench for dispute resolution

The council also decided that every state will have a GST bench for dispute resolution. The states will have to submit their requirements on how many benches they require, and it will be allocated to them based on their needs. Currently, 50 benches are proposed to be created.

For more such updates and news on the go, follow us on

Instagram | YouTube | Facebook