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Revenue mop up rises over 400% since levy of 28% GST
Millennium Post Delhi
|New Delhi 10September2024
'The revenue from online gaming has increased by 412 per cent and reached Rs 6,909 crore in just six months'
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Finance Minister Nirmala Sitharaman on Monday said that GST collection from online gaming has increased 412 per cent in six months from October 1, 2023, when 28 per cent tax was levied on these services.
Briefing media on the decisions taken at the 54th meeting of the GST Council, Sitharaman said the status on revenue collection from casinos, online gaming and horse races after six months of implementation of 28 per cent GST was presented to the Council.
"The revenue from online gaming has increased by 412 per cent and reached Rs 6,909 crore in just for six months.
This amount of Rs 6,909 crore is earned in a period of six months from Rs 1,349 crore before the notification issued on the online gaming," the finance minister said.
From October 1, 2023, entry-level bets placed on online gaming platforms and casinos were subject to 28 per cent GST.
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