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Parliament clears 28% GST on online gaming, casinos
Mint Mumbai
|August 12, 2023
The laws also make any payment made towards online gaming through crypto assets taxable
The Parliament has approved the necessary legislative modifications for implementing the Goods and Services Tax (GST) Council’s proposal to levy a 28% tax on the full value of deposits made by individuals to online gaming platforms, casinos, and horse racing clubs.
According to a notification issued on Friday, the legislation will be effective from 1 October. Both Houses of Parliament have endorsed the Central Goods and Services Tax (Amendment) Bill, 2023 and the Integrated Goods and Services Tax (Amendment) Bill, 2023. The laws will come into effect in October. It’s important to note that the 28% GST applies solely to instances involving wagering on gaming sites. GST will not be imposed on casual gaming services offered by the platforms.
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