INVC NEWS
New Delhi : Get the latest update on India’s GST Council decision to impose a 28% tax on online gaming and horse racing from October 1. Finance Minister Nirmala Sitharaman announces a review after six months to gauge its impact on the industry.
Union Finance Minister Nirmala Sitharaman addressed the media after the 51st meeting of the GST Council. During the press conference, the Finance Minister explained about the decisions taken in the meeting. During this, the Finance Minister informed that the 28% GST on online gaming and horse racing will be reviewed in the next six months. The Finance Minister said that during the GST Council meeting, Delhi, Goa and Sikkim demanded a review of the decision of 28 per cent GST on online gaming.
Finance Minister Nirmala Sitharaman said after the 51st meeting of the GST Council that the decision to levy 28 per cent GST on the full face value of bets placed on online gaming will be implemented from October 1. The GST Council will review the imposition of 28 per cent GST on online gaming and casinos after 6 months. The council recommended that supplies on online gaming can be assessed on the basis of amount paid by the player.
