Reports indicate that the GST Council might reconsider its decision to levy a 28% Goods and Services Tax on online gaming and casinos, following concerns raised by the industry.
On this page
The Goods and Services Tax (GST) Council is reportedly planning to revisit its earlier decision regarding the imposition of a 28% GST on online gaming and casinos.
Recent reports suggest that the GST Council is open to reviewing the 28% GST rate it had decided to apply to the online gaming and casino sectors. This tax imposition has been a point of contention for the relevant industries.
The move to reconsider comes after various stakeholders in the online gaming and casino industries expressed their concerns regarding the significant tax increase.
The decision to potentially reconsider the 28% GST levy is particularly relevant in India, where the online gaming sector has seen significant growth. The industry has been vocal about the potential impact of such a high tax rate on its operations and future development within the country.
Source: Livemint — read the full original report.
The GST Council is expected to review the 28% levy on online gaming, casinos, and horse racing during its meeting scheduled for June 22, 2024, in Delhi.
The GST Council has decided to levy a 28% goods and services tax on the entire face value of bets across online gaming, casinos, and horse racing, a move that is anticipated to significantly affect the online gaming sector.
The GST Council has decided to retain the 28% Goods and Services Tax on online gaming, casinos, and horse racing, providing no relief to the industry as had been previously anticipated.
The GST Council is reportedly set to reconsider the 28% tax levied on online gaming and casinos during its upcoming meeting scheduled for June 22.
The GST Council is set to address concerns regarding the 28% GST levied on online gaming, casinos, and horse racing, with a review anticipated after six months of implementation, as stated by CBIC Chairman Sanjay Kumar Agarwal.
A Group of Ministers (GoM) established to assess Goods and Services Tax (GST) implications on casinos, race courses, and online gaming is set to submit its report to the Union Finance Minister by July 15.
