GST Council fixes 28% uniform tax rate for lottery effective from March 2020

The 38th meeting of the Goods and Services Tax (GST) Council, chaired by Finance Minister Nirmala Sitharaman was held in New Delhi on December 18, 2019.
Some of the important decisions taken during the meeting are as follows:
- Uniform GST tax rate of 28 percent on both state and private lottery. Currently, lotteries run by state-government attract 12% GST and those authorized by them and sold outside the state are taxed at 28%.
- GST rate on woven and non-woven bags rationalized to 18 percent, compared to 12% at present.
- The new rates will be effective from March 2020.
- Exempt upfront amount payable for long term lease of industrial and financial infrastructure plots by an entity having 20 percent or more ownership of Central or State Government, to facilitate setting up of industrial parks.
- Deadline for GSTR 9 and GSTR 9C return filing for 2017-18 extended to January 31, 2020 from December 31, 2019 earlier.
- The panel also relaxed levy of penalty for non-filing of GSTR-1 from July 2017
- the finance ministry has also set a Rs 1.1 lakh crore monthly GST collection target for the remaining four months of 2019-20 financial year.