Why in news? The Goods and Services Tax (GST) Council, at its 50th meeting to impose 28% tax on online gaming firms

Highlights:

• GST Council has decided to exempt cancer-fighting drugs, medicines for rare diseases, and food products for special medical purposes from GST tax
• 28 percent tax will be levied on online gaming, horse racing, and casinos and will be taxed at full face value.
• Uncooked, unfried extruded snack pallets have been brought down from 18 percent to 5 percent
• Exemption of GST from satellite launch services by private operators.