New GST Rates: While the central government has made GST zero on essential goods, it has increased the tax on luxury and harmful goods. In the 56th meeting of the GST Council, a 40 percent tax was approved on tobacco products. Union Finance Minister Nirmala Sitharaman said in a press conference on Wednesday that a separate slab of GST will be imposed on harmful goods, which will be 40 percent.

40 percent GST on lottery-online gaming

Pan Masala, cigarettes, gutkha, chewing tobacco, zarda, added sugar, carbonated drinks, aircraft for personal use, luxury cars and fast food will be taxed at 40 per cent. GST on entry to casinos, race clubs, or sporting events like the IPL has been raised from 18 per cent to 40 per cent. Services for licensing bookmakers in a race club, gambling, horse racing, lotteries and online money gaming have also come under the ambit of 40 per cent GST.

40 percent GST on luxury vehicles

Motor cars and other motor vehicles designed primarily for the transport of persons, including racing cars. If a person buys an aircraft for personal use, he will have to pay 40 per cent GST. Also, if he buys a yacht or other vessel for pleasure or sport, he will have to pay a hefty 40 per cent tax. The GST on revolvers and pistols has also been increased to 40 per cent.

 PC:Punjab Kesari