The Centre and States may speed up discussions on the goods and services tax (GST) this weekend and approve the e-way bill and anti-profiteering rules. The GST Council is scheduled to meet on June 18 to thrash out the tax rate on the lottery as well as formulating the other remaining rules before the deadline of July 1.
“The main agenda items are approval of draft GST rules and related forms for an advance ruling, appeals and revision, assessment and audit e-way bill and anti-profiteering,” the Finance Ministry said in a release on Thursday, adding that it may also look into fitment and adjustment of GST rates on some more items.
With a number of States like Kerala, Sikkim, and Maharashtra earning significant revenue from the lottery, sources said that the Council may choose to follow the model for entertainment under GST.
The lottery may be put in the 28 per cent tax slab under GST, along with a cess. However, states would be free to levy an additional tax or cess at the local level to ensure that they do not lose out on revenue.
The Council will also review the tax position on automobiles as manufacturers have been calling for a re-look on the proposed GST rate on hybrid cars.
The Council had last month fixed 43 percent tax (28 per cent GST plus 15 per cent cess) on hybrid cars and Finance Minister Arun Jaitley had indicated that it may not be reviewed. However, a discussion paper was floated.