India

28% GST Stays On Online Gaming, Casinos; Review After 6 Months Of Implementation

By
OB Bureau

New Delhi: The central government has decided to retain 28% Goods and Services (GST) on online gaming and casinos and it is likely to be implement from October 1.

Union Finance Minister Nirmala Sitharaman said that the GST Council will  review the taxation after six months from the date of implementation. This was decided at the 51st meeting of the council held virtually on August 2.

The Council, chaired by Sitharaman and comprising state ministers, in its last meeting on July 11 approved levying 28% tax on full face value of bets in online gaming, casinos and horse racing. The decision has been opposed by a handful of states.

While Delhi finance minister opposed the levy of the tax on online gaming, Goa and Sikkim want the tax to be levied on the gross gaming revenue (GGR) and not on the face value. ‘’The council recommended that valuation of supply on online gaming and actionable claims in casinos may be done based on the amount paid or payable or payable to or deposited with the supplier by/or on behalf of the player, excluding the amount entered into the games, bets out of winnings of previous games and not on the total value of each bet placed..,” Sitharaman said in a post-meeting conference.

OB Bureau

Recent Posts

AR Rahman Best Man In The World, Certifies Saira Banu; Then Why Their Separation?

Mumbai: There has been a lot of talk over AR Rahman and his wife Saira…

November 24, 2024

Process On To Form NODC In 2-3 Months, Says Odisha CM Mohan Majhi

Sundargarh: The North Odisha Development Council (NODC) would be formed in 2-3 months, said Chief…

November 24, 2024

Odisha DGP Reviews Security Arrangements For President’s Visit To Puri

Puri: Director General of Police (DGP) YB Khurania on Sunday reviewed the security arrangements for…

November 24, 2024

KISS-DU Convocation Honours 3 Eminent Personalities; 8 PhD Degrees Awarded

Bhubaneswar: Three eminent personalities were conferred honorary D.Litt degrees for their outstanding academic excellence and…

November 24, 2024

INS Kuthar Visits Odisha’s Gopalpur Port To Promote Awareness On Coastal Security

Berhampur: Indian Navy ship INS Kuthar docked in Gopalpur port in Odisha's Ganjam district with…

November 24, 2024

Attack On Dharmasala MLA In Odisha: BJD, BJP Trade Charges Over Police Action

Jajpur: Ruling BJP and Opposition BJD were engaged in trading charges against each other on…

November 24, 2024

After Jaiswal-Kohli-Bumrah Heroics, Can India Beat Australia By Record Margin In 1st Test?

Perth: It was the perfect day of Test cricket for Team India. The visiting team…

November 24, 2024

Youth Beats Old Mother To Death In Odisha’s Angul

Angul: A youth allegedly beat his old mother to death following an argument over a…

November 24, 2024