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GST Council nod for gaming tax law changes on 2 Aug
Mint Mumbai
|July 27, 2023
GST Council, the federal indirect tax body, will meet virtually on 2 August to clear changes in the goods and services tax (GST) law needed to implement the decision taken earlier this month regarding the levy of 28% tax on the full value of online gaming bets, a person familiar with the development said.
"The Council will deliberate and approve the amendments to GST law to implement the decision taken by it in its last meeting to levy GST at the rate of 28% on the face value (of bets) in online gaming, casinos, and horse racing," the person said on condition of anonymity.
There is no going back on the decision to implement a 28% tax on the face value of online gaming bets at par with casinos and horse racing, the person explained, adding that the decision was taken by consensus and that states favoured this legislative move.
At the forthcoming meeting next Wednesday, the Council will consider and clear the amendments to be made to the Central Goods and Services Tax (CGST) Act, 2017, and respective state GST laws to give effect to the Council's decision.
This story is from the July 27, 2023 edition of Mint Mumbai.
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