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GST Council recommends Casino, Horse Racing and Online gaming to be taxed at the uniform rate of 28% on full face value GST Council recommends notification of GST Appellate Tribunal by the Centre with effect from 01.08.2023 GST Council recommends IGST exemption for Dinutuximab (Quarziba), medicines and Food for Special Medical Purposes (FSMP) when imported for personal use subject to existing conditions. Recommends extension of exemption to FSMP imported by Centres of Excellence for Rare Diseases or any institution or person on recommendation of such listed Centres of Excellence.

Income-tax is levied on an assessee’s total income. Such total income has to be computed as per the provisions contained in the Income-tax Act, 1961. Steps 1 to 8 given hereunder have to be followed for computing the total income of an individual assessee as per the regular provisions of the Income-tax Act, 1961.