GOM Agreees To Levy 28 Percent GST On Online Gaming Casino And Horse Racing
GST On Online Gaming & Casino: There is a preparation...
GST On Online Gaming & Casino: There is a preparation to impose 28 percent GST on Online Gaming, Casino and Race Course in the country. The Group of Ministers (GoM) consisting of state finance ministers has given its consent to recommend 28 per cent GST on online gaming, casinos and race courses. The Group of Ministers will submit its report in the next few days. This report will be presented before the 47th meeting of the GST Council for approval. Meghalaya Chief Minister Conrad K Sangma is the convener of this GoM.
28% GST proposed
Let us tell you that at present there is a provision to levy 18 percent GST on gaming without betting. But 28 per cent GST is levied on betting online gains. There is a provision to levy 18 percent on the commission charged on every game by the online gaming platform. Horse racing attracts a GST of 28 per cent of the total betting value. But now it is proposed to charge 28 percent GST on all types of gaming. If the proposal of the Group of Ministers is approved by the GST Council, then 28 percent GST will be levied on all categories. The Group of Ministers will be based on the initial betting amount and the gaming amount. Because GoM is not in favor of levying GST on every bet and winning amount.
Objection to the online gaming industry
It is believed that a meeting of the GST Council can be called in the next few days. In which a decision can be taken on the recommendations of the Group of Ministers. However, the online gaming industry is opposing the proposal to increase the GST rate. Online gaming is in favor of levying 18% GST. The online gaming industry is not in favor of combining it with betting or gambling, racing.
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