New Delhi - Nirmala Sitharaman, the Union Finance Minister, addressed the media after the 50th meeting of the GST Council in New Delhi on Tuesday. The council made several changes to the GST tax structure, including a 28% tax on online gaming, bets in casinos and racing. The council also exempted cancer-related drugs, medicines for rare diseases, and food products for special medical purposes from the GST tax bracket. In addition, the council reduced the GST rate on four items: raw, unfried, and extruded snack pallets, fish soluble paste, LD slag, and food served in cinema halls. The definition of SUV for levying cess was also changed.

Here are some specific changes that were made to the GST tax structure:-

• The 28% tax on online gaming, bets in casinos and racing is a significant increase from the current GST rate of 18%. This is likely to have a negative impact on the online gaming industry, as it will make online gaming more expensive for consumers.

• The exemption of cancer-related drugs, medicines for rare diseases, and food products for special medical purposes is a positive development, as it will make these essential items more affordable for patients.

• The reduction of the GST rate on raw, unfried, and extruded snack pallets, fish soluble paste, LD slag, and food served in cinema halls is also a positive development, as it will make these items more affordable for consumers.

• The change in the definition of SUV for levying cess is likely to have a positive impact on the automotive industry, as it will make it easier for manufacturers to comply with the cess requirements.

Overall, the changes to the GST tax structure announced by the GST Council are a mixed bag. Some of the changes, such as the 28% tax on online gaming, are likely to have a negative impact on certain industries. However, other changes, such as the exemption of cancer-related drugs and medicines for rare diseases, are likely to have a positive impact on patients.