GST on casinos, online games: A Group of Ministers (GoM) meeting will be held on Tuesday to decide on the Goods and Services Tax (GST) tax bracket for casinos, online gambling and horse racing. At this meeting, the GoM will consider increasing the GST by 28%. Check Zee business Ambarish Pandey report.
According to the report, the GOM meeting will consider raising the GST from 18% to 28% on casinos, online gambling and horse racing. Along with this, the applicable GST on the bet amount or total amount will also be considered.
The decision was not made at the GST Council held last month and was asked to make a decision by July 15, Pandey said.
At the last TSG meeting chaired by Finance Minister Nirmala Sitharaman, which also included State Finance Ministers, the report was referred to the Group of Ministers (GoM) for further discussion and submission of the final report. . The deadline was set for July 15, according to the PTI report.
In fact, the GoM in its report pointed out that horse racing, online gambling and casinos are part of betting and gambling and should be subject to 28% GST.
The group of ministers, chaired by Chief Minister of Meghalaya, Conrad Sangma, recommended that online gambling be taxed on the full value of the consideration, including the competition entry fee paid by a player for his participation in the game, said PTI.