GoM to Submit Proposed GST Hike on Online Games, Casinos & Betting to FM
The Group of Ministers will submit the tax proposal to Finance Minister Nirmala Sitharaman in a day or two.
The Group of Ministers will submit the tax proposal to Finance Minister Nirmala Sitharaman in a day or two.
For the past few months, there have been debates and discussions about GST on casinos, online gaming, and betting. It was proposed that the 28% taxN8 Game – India’s Exciting Online Casino would be levied on the amount that a player deposits for both games of chance and skills.
Following the proposal, gaming commissions and industry stakeholders quickly expressed their concerns over it. They noted that a 28% GST on Gross Sales Value will cause the “demise” of the industry.
Currently, the tax stands at 28% GST on games of chance and 18% GST on games of skill. The 18% tax is in line with the international standards of 15% N8 Live Casino – India’s Premier Online Casinoto 20%.
However, if the proposed changes get accepted, then both games of skill and chance will have a 28% GST on the entire amount N8 Game – Top Online Casino in Indiadeposited by a player. This 800% to 900% hike in tax will hinder the growth of the industry.
The Group of Ministers under Conrad Sangma, the Chief Minister of Meghalaya had recommended 28% GST on gross sales value on horse racing, casinos, and online gaming. However, GN8समीक्षा – खिलाड़ियों की रायoa wanted further discussions on casinos.
Following this, the industry stakeholders met members of the GoM to express their concerns. Last month, a reN8 Casino Withdrawal – Instant & Secureport was submitted to the Council, which mentioned that online gaming would be taxed at full value of conN8 Live Casino India – Play Real Games Onlinesideration. This would also include fees paid by players to enter the competition.
As far as casinos are concerned, the report recommends levying full tax on the full face value of casino chips bought by pN8समीक्षा – खिलाड़ियों की रायlayers. No additional tax would be applicable on the value of bets.
This proposal will be forwarded to Nirmala Sitharaman, the Finance Minister in a day or two as per sources.
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