THE ISSUE of tax demand notices being served on gaming companies and others under the Goods and Services Tax (GST) regime was raised at the GST Council meeting on Saturday, with some states terming it as “retrospective taxation” even as the Centre defended the 28 per cent levy.
The Council, in its 52nd meeting, also recommended that Extra Neutral Alcohol (ENA), used for manufacture of alcoholic liquor for consumption, be kept outside the GST ambit, along with a cut in the GST rate on molasses from 28 per cent to 5 per cent. The Council clarified that the GST rate for corporate guarantees provided by a parent company to its subsidiaries will be levied at 18 per cent.
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