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.
Berhampur: A stone weighing 2 kg fell from the ‘Singhadwara Gumuta’ of the Lord Jagannath…
New Delhi: Recent pictures of Space Station Commander Sunita Williams from the International Space Station…
Mumbai: Actress Rupali Ganguly recently filed a Rs 50 crore defamation case against her stepdaughter…
Chennai: Odisha will face Manipur in the semifinals of the 14th Hockey India Senior Men’s…
New Delhi: India will again ask Canada for the extradition of designated Khalistani terrorist Arshdeep Singh…
Berhampur: Police have arrested a man from West Bengal for allegedly claiming himself to be…
Mumbai: Carving a niche for himself in Bollywood was not a cakewalk for ‘The Family…
Mumbai: Mukesh Khanna’s Indian superhero series ‘Shaktimaan’ has been making headlines for quite some time…