GST on online gaming – GoM to submit a report in Aug
GST on online gaming – To address the imposition of a 28% GST, the Group of Ministers (GoM) on online gaming, casinos, and horse racing convened today. But no decision was made in the end.
Business Today quoted sources as saying that “GoM had no final conclusion due to certain members’ absence and information from the meeting.” By the end of the month, the GoM will probably convene once again. The group will turn in the report before the 48th GST Council meeting, or by the second week of August.
Chandrima Bhattacharya, the finance minister for West Bengal, stated to Business Today that a final judgement will be made when the law committee has had a chance to review specific legal aspects of the situation.
Bhattacharya further mentioned that the GST Council had moved up the deadline for submitting reports from July 15 to August 10. In person, the GoM on gaming and casino pricing rationalization will convene in New Delhi most likely during the final week of July.
GST on online gaming
At their meeting last month, the committee discussed increasing the GST on online gaming, casinos, and horse racing by 10% to the highest slab of 28%. At the 47th GST Council meeting held last month, it was decided to give the GoM more time to submit its report.
It was also decided that the tax would be applied to the entire face value or bet amount rather than the amount left over after deducting prize money. When it comes to casinos, the tax should be added to the entrance charge that is paid when purchasing chips. It was suggested to continue the practice of levying a GST of 28% on horse racing.
The group of state finance ministers is headed by Meghalaya’s chief minister, Conrad Sangma. Attending the meeting were representatives from Telangana, Goa, Uttar Pradesh, Gujarat, Tamil Nadu, and Maharashtra.