New Delhi, June 18, 2017: GST Council has set tax rate on state-run lottery at 12 percent, and government-authorised private lottery at 28 percent. Briefing media after chairing the GST Council meeting in New Delhi, Finance Minister Arun Jaitley said, GST rate of 28 percent will be applicable for hotel rooms above 7500. The rate will be 18 percent for rooms priced between 2,500 to 7,500 rupees.
The Finance Minister said the official launch of the GST will take place on the midnight of 30th June and 1st of July at a function in Delhi. He said the Council categorically decided to implement GST from 1st July and they do not have the luxury of time to defer its implementation.
He also said that GST network will take four to five months to prepare E-Way Bill. He added that it was decided in the meeting to have further deliberations on E-way Bill as Council had two opinions. He said having IGST on shipping vessels at 5 percent is still a pending issue.