53rd GST Council Meeting Scheduled for June 22 at New Delhi

The Goods and Services Tax (GST) Council of India is slated to convene its 53rd meeting on June 22, 2024, in New Delhi, marking the first such gathering since Prime Minister Narendra Modi's reelection and Nirmala Sitharaman's reappointment as Finance Minister. \r

This meeting holds significant importance as it precedes the inaugural session of the new Parliament and sets the stage for the government's economic agenda in its third term. Recent GST collections for May 2024 totaled Rs 1.73 lakh crore, showing a 10% year-on-year increase but falling short of the previous month's record high. The upcoming meeting is expected to address various economic issues, including a review of the 28% GST rate imposed on online gaming since October 2023. \r

Revenue Secretary Sanjay Malhotra clarified that while a review is underway, any decision to change rates will depend on the evaluation of current circumstances and the necessity for adjustments.