GST Council defers decision to hike tax rate on online gaming to 28%
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The Goods and Service Tax Council deferred a decision on the proposal to raise the GST on online gaming from 18% to 28%. Karnataka chief minister BS Bommai said the GoM on Online Gaming has been given another 15 days to discuss the issue. Online gaming is a Rs 30,000 crore industry and growing rapidly in India.
GST Council deferred a decision on the proposal to raise the GST on online gaming from 18% to 28%. Online gaming is a Rs 30,000 crore industry and growing rapidly in India. The GoM on Online Gaming has been given another 15 days to discuss the issue. In case of Race Courses, GST will continue to be levied at the rate of 28% on full value of bets pooled in the totalisator and placed with the bookmakers. In casinos, it will be applied at 28%, on face value. in case of casinos. E-Gaming Federation CEO Sameer Barde said an increased tax rate on all money collected from the platform would annihilate the sector.
