GST Council defers 28% tax on casinos, online gaming, horse racing and lottery
$5,000 Welcome Bonus
Prime News, National, Finance, Taxes, Chandigarh, June 30:- The GST Council on Wednesday (June 29) deferred a decision on levying a 28 percent tax on casinos, online gaming, horse racing and lottery pending more consultations with stakeholders, Union Finance Minister Nirmala Sitharaman said.
A group of ministers headed by Meghalaya Chief Minister Conrad Sangma has been asked to consider submissions of stakeholders again on the valuation mechanism and submit its report by July 15, she told reporters here.
The council will meet again in the first week of August to decide on the issue, she said.
A two-day meeting of the panel considered a report of the GoM but deferred a decision as Goa and some others wanted to make more submissions.
The GoM had recommended that online gaming should be taxed at the full value of the consideration, including the contest entry fee paid by the player on participating in the game.
In cases of race courses, it had suggested that GST be levied on the full value of bets pooled in the totalisators and placed with the bookmakers.
It also recommended that no distinction should be made on grounds of game of skill or game of chance for the purpose of the levy of Goods and Services Tax (GST) and should be taxed at the highest rate of 28 percent. (Inputs: PTI/ NGB)
