India tax body clarifies Sports Utility Vehicles definition, defers tax on online gaming
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The body did not discuss a report prepared by a ministers' panel on how online gaming companies and casinos should be taxed.
India's Goods and Services Tax (GST) Council on Saturday decided to have a single definition across all states in the country for sports utility vehicles, attracting a higher tax rate.Currently cars with engine capacity exceeding 1500 cc, length exceeding 4000 mm and having ground clearance of 170 mm attract a GST of 28% and a 22% cess, taking the effective tax rate to 50%. However, states do not have a consistent definition define a vehicle as a SUV, leading to confusion among automakers. The council, composed of state finance ministers and chaired by the federal finance minister, decided that all the criteria including engine capacity, length and ground...