GST rate proposal clears a key hurdle | Hook News Wrap

The Group of Ministers on GST rate rationalisation on Thursday accepted the Centre's proposal to move to a three-slab structure of 5, 18 and 40%.

Bihar’s Deputy Chief Minister and convenor of the panel, Samrat Choudhary, said the six-member state ministerial panel has also accepted the proposal to remove the 12 and 28% slabs.

With these two slabs being removed, most products will fall in the 5 and 18% slabs. However, a 40% tax will be levied on ultra-luxury and sin goods.

RS nod for Online Gaming Bill

The Rajya Sabha on Thursday approved The Promotion and Regulation of Online Gaming Bill, 2025. The Bill, which has already been cleared by the Lok Sabha, seeks to prohibit 'online money games.'

Tabling the Bill in the Upper House of Parliament, IT Minister Ashwini Vaishnaw said the Bill seeks to promote two-thirds of the online gaming industry and to prohibit only one segment pertaining to online money games.

He also spoke of the public health risks posed by online money gaming, and underlined that the World Health Organisation has declared it a 'gaming disorder.'

B Sudarshan Reddy files VP nomination

The INDIA bloc’s vice-presidential candidate, B. Sudarshan Reddy, on Thursday filed his nomination papers for the election to the second-highest office.

The former Supreme Court judge was accompanied by Congress leaders Mallikarjun Kharge, Sonia Gandhi and Rahul Gandhi. NCP (SP) chief Sharad Pawar and other opposition leaders also joined him during the nomination process.

The Vice-Presidential election has been necessitated by the sudden resignation of Jagdeep Dhankhar, who had two years left in his term.

Gains for fourth straight session

Indian equities continued to gain for the fourth straight session. The Sensex rose a tenth of a per cent, to end the day just shy of 82,000. The Nifty also saw a minor uptick and ended the session above 25,000.