GST Council Meet HIGHLIGHTS: GoMs to re-deliberate tax rate on online gaming, casinos by July 15, says FM

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Mint

Mint Primer: The gamble with online gaming: ₹1.5 trillion in taxes?

The Directorate General of GST Intelligence (DGGI) is serving tax demands worth thousands of crores of rupees on online gaming firms. The demands are up to 10x the revenue of some firms. Why is it making such astronomical demands, and are they substantiated? On 12 September, the DGGI's show-cause notice to Mumbai-based Dream11 claimed GST in line…

Law ・ 27 September 2023

Brand Equity

online gaming: 28% GST stays on online gaming, casinos; Council to review taxation in six months from implementation

Industry ・ 19 August 2023

Yogonet

India approves 28% tax on online gaming, horse racing, and casinos; shares of gambling firms slide after decision

The Goods and Services Tax (GST) Council in India has passed a decision to levy a maximum 28% tax on the full face value of bets in online gaming, casinos, and horse racing. The decision was announced at the 50th Council meeting by Union Finance Minister Nirmala Sitharaman. Online gaming companies will now be required to pay a 28% tax on the entire…

Law ・ 13 July 2023

Gambling News

Lawmakers in India Consider Imposing 28% Tax On Online Gambling

Image Source: Shutterstock.com The growing gambling industry in India may be subject to a new, increased tax rate, following a decision made by lawmakers Tuesday. The country's Goods and Service Tax Council, the regulatory body in charge of recommendations to the implementation of the Goods and Services Tax (GST) confirmed it has agreed to…

Law ・ 13 July 2023

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Aljazeera

India hits online gaming with 28% tax

Concerns have mounted over possible addiction and financial losses for players even as sector draws investors. India's government says it will impose a 28 percent tax on funds that online gaming companies collect from their customers in a setback to the $1.5bn industry. Gaming apps are often endorsed by sporting heroes in India, where cricket is a…

Industry ・ 12 July 2023

Financial Express

28% GST on gambling-like online games

Online games where winning is dependent on a certain outcome would attract 28% GST on the full bet value, Central Board of Excise and Customs chief Vivek Johri said on Saturday, even as the report of a group of ministers on the contentious issue is still awaited by the GST Council. "The view of the department on levying GST on online gaming is very…

Industry ・ 18 December 2022

Brand Equity

GST Council decriminalises some types of offences, defers call on online gaming, horse racing and casinos

online gaming, horse racing and casinos. The Council also increased the monetary threshold for launching prosecution for some GST offences."GST Council agreed to decriminalise certain offences, and the threshold of launching prosecution has been doubled to Rs 2 crore," said Revenue Secretary Sanjay Malhotra.Malhotra added that GST on online gaming…

Industry ・ 21 December 2022

Hindustan Times

GST: GoM on online gaming, casinos submits report to Sitharaman

The panel of state ministers set up by the GST Council to look into taxation of online gaming and casinos on Thursday submitted its report to Finance Minister Nirmala Sitharaman. The GST Council, chaired by Sitharaman, may take up the report in its next meeting on Saturday (December 17). "Presented the Second Report of the Group of Ministers (GoM)…

Industry ・ 17 December 2022

The Indian Express

GST on online gaming, casinos, racing: issues in the debate

The final call about the valuation mechanism, however, will be taken by the GST Council as the GoM members have differed on whether it should be levied on the platform fee or the entire amount paid by the participants. The panel, which met on Tuesday (November 22), is likely to fall back on the initial report presented before the GST Council in…

Industry ・ 18 December 2022

Mint

GST on online gaming, casinos? Here's what is on proposal

A panel of states' finance ministers is likely to submit their report on taxation of casinos and online gaming to FM Nirmala Sitharaman in a day or two, as per a report by PTI news agency. At present, the current rate of GST on this sector of the online skill gaming industry is 18% on the Gross Gaming Revenue (GGR) and 0% on Contest Entry Fee…

Industry ・ 11 August 2022

Sakshi Post

28 Pc GST On Online Gaming, Casinos And Horse Racing

It is reported that the finance ministers of Goa, Uttar Pradesh, Gujarat, Tamil Nadu, Maharashtra, and revenue officials of Telangana will finalize the imposition of GST on online gaming, casinos, and horse racing. The GST council has been mulling increasing the tax on online gaming to 28 percent. The GST Council has given the Group of Ministers…

Industry ・ 18 July 2022

News18

GST: GoM Meet On Casino, Online Gaming Remains Inconclusive; To Meet Again Next Month

GoM members were all on board on levying a 28 per cent GST on all three activities - online gaming, casinos and race courses. Goods and Services Tax (GST): The group of ministers (GoM) on casinos, online gaming and horse racing, which has been tasked with examining the issue of levying a 28 per cent GST on these activities, met on Tuesday and the…

Industry ・ 13 July 2022

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Brand Equity

Group of Ministers may not tweak 28% GST on online gaming, casinos

The group of ministers (GoM) reviewing the goods and services tax slabs for online gaming, horse racing and casinos is unlikely to tweak the 28% rate recommended for these activities, people aware of discussions said. The GST Council has given the GoM, headed by Meghalaya chief minister Conrad Sangma, time till July 15 to review its proposals. The…

Industry ・ 04 July 2022

5 Dariya News

Online gaming is gambling like casinos

Union Finance Minister Nirmala Sitharaman on Wednesday categorically termed online gaming "nothing but gambling".Addressing the media at the conclusion of the two-day meeting of the Goods and Services Tax (GST) Council held in Chandigarh, Sitharaman said casinos, horse-racing, and online gaming are all gambling. "Whether it is horse-racing or…

Industry ・ 02 July 2022

SME Futures

Online gaming gambling no decision on extending GST compensation date

Online gaming gambling: Union Finance Minister Nirmala Sitharaman on Wednesday categorically termed online gaming "nothing but gambling". She also said on the issue of extending the Goods and Services Tax (GST) compensation from June 30, the views of some states were heard so far but nothing was decided. Addressing the media at the conclusion of…

Industry ・ 30 June 2022

City Today

GST Council defers 28% tax on casinos, online gaming, horse racing and lottery

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…

Lottery ・ 30 June 2022

Punjab News Express

Online gaming gambling, no decision on extending GST compensation date: Sitharaman (Lead)

CHANDIGARH: Union Finance Minister Nirmala Sitharaman on Wednesday categorically termed online gaming "nothing but gambling". She also said on the issue of extending the Goods and Services Tax (GST) compensation from June 30, the views of some states were heard so far but nothing was decided. Addressing the media at the conclusion of the two-day…

Industry ・ 30 June 2022

Daijiworld

Online gaming is gambling like casinos: Nirmala Sitharaman

Chandigarh, Jun 29 (IANS): Union Finance Minister Nirmala Sitharaman on Wednesday categorically termed online gaming "nothing but gambling". Addressing the media at the conclusion of the two-day meeting of the Goods and Services Tax (GST) Council held in Chandigarh, Sitharaman said casinos, horse-racing, and online gaming are all gambling. "Whether…

Industry ・ 30 June 2022

News18

GST Council Defers 28% Tax On Casinos, Online Gaming; GoM To Submit Fresh Report Till July 15

GoM recommended that online gaming should be taxed at the full value of the consideration. (Photo: ShutterStock) The GST Council on Wednesday deferred the proposal to levy 28 per cent tax on casinos, online gaming, casinos and lottery, as the GST Council has given time till July 15 to the group of ministers (GoM) to re-examine the issues and submit…

Finance ・ 29 June 2022

Ommcom News

Online Gaming Is Gambling Like Casinos: Nirmala Sitharaman

Chandigarh: Union Finance Minister Nirmala Sitharaman on Wednesday categorically termed online gaming "nothing but gambling". Addressing the media at the conclusion of the two-day meeting of the Goods and Services Tax (GST) Council held in Chandigarh, Sitharaman said casinos, horse-racing, and online gaming are all gambling. "Whether it is…

Industry ・ 29 June 2022

News18

GST Council May Discuss Changes In Law To Set Up Tribunals; GoM Report On Online Gaming, Casinos

The GST Council, chaired by Finance Minister Nirmala Sitharaman, is scheduled to meet on June 28 and 29 in Chandigarh. The GST Council, which is scheduled to meet next week in Chandigarh, is likely to discuss changes in law to facilitate provision for setting up GST Tribunals. The Council will also discuss the group of ministers' (GoM) report on…

Industry ・ 26 June 2022

CNBC TV 18

Gst Council Meet: Status Quo Likely On Textile Tax But Online Gaming, Casinos May Come Under 28% Slab

The GST Council is likely to meet in the second half of June. The Council may extend timeline for GoM on rate rationalisation by six months. In the upcoming meet, the GST Council is unlikely to correct inverted duty structure with respect to textiles. The Council is likely to maintain status quo on the taxation on textile, sources told…

Finance ・ 03 June 2022

Mint

Ministerial Group To Recommend 28% Gst On Casinos, Racecourses, Online Gaming

A group of ministers led by Meghalaya chief minister Congrad Sangma that is advising the GST Council on the taxation of casinos, race courses and online gaming, is set to recommend 28% GST rate on these. Sangma said in a social media post on Wednesday that the group of ministers has come to a consensus. The report of the GoM's submissions will be…

Industry ・ 18 May 2022

Northeast Now

Meghalaya: GoM reaches consensus on casinos, online gaming and racecourses

The group of ministers (GoM) has reached a consensus on matters relating to the GST regulations on casinos, racecourses and online gaming in Meghalaya. The GoM was set up by the union finance ministry. This was informed by Meghalaya chief minister Conrad Sangma on Wednesday after meeting the GoM. The GoM met Meghalaya chief minister Conrad Sangma…

Industry ・ 18 May 2022