NEW DELHI: The panel of state ministers set up by the GST Council to look into taxation of online gaming and casinos on Thursday submitted its report to finance minister Nirmala Sitharaman.
The GST Council, chaired by Sitharaman, may take up the report in its next meeting on Saturday (December 17).
“Presented the Second Report of the Group of Ministers (GoM) on casinos, race courses & online gaming to the Hon’ble Union finance minister, Smti. @nsitharaman Ji in New Delhi today,” the GoM’s chairman and Meghalaya chief minister Conrad Sangma tweeted.
Usually, the GST Council secretariat gives notice to members in the Council before tabling any agenda.
The agenda for the Council meet so far did not include a discussion on online gaming. Now that the report has been submitted, it is likely that the Council may take it up for consideration.
The GoM, in its last meeting in November, had agreed on a 28 per cent GST on online gaming casinos and horse racing.
However, in absence of consensus on whether the tax should be levied on only the fees charged by the portal or the entire consideration, including the bet amount received from participants, the GoM had decided to refer all suggestions to the GST Council for a final decision.
Currently, online gaming attracts 18 per cent GST. The tax is levied on gross gaming revenue, which is the fees charged by online gaming portals.
The GST Council, chaired by Sitharaman, may take up the report in its next meeting on Saturday (December 17).
“Presented the Second Report of the Group of Ministers (GoM) on casinos, race courses & online gaming to the Hon’ble Union finance minister, Smti. @nsitharaman Ji in New Delhi today,” the GoM’s chairman and Meghalaya chief minister Conrad Sangma tweeted.
Usually, the GST Council secretariat gives notice to members in the Council before tabling any agenda.
The agenda for the Council meet so far did not include a discussion on online gaming. Now that the report has been submitted, it is likely that the Council may take it up for consideration.
The GoM, in its last meeting in November, had agreed on a 28 per cent GST on online gaming casinos and horse racing.
However, in absence of consensus on whether the tax should be levied on only the fees charged by the portal or the entire consideration, including the bet amount received from participants, the GoM had decided to refer all suggestions to the GST Council for a final decision.
Currently, online gaming attracts 18 per cent GST. The tax is levied on gross gaming revenue, which is the fees charged by online gaming portals.
For all the latest business News Click Here
Denial of responsibility! TechAI is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
