GST Council Meeting: Tax on online gaming reviewed in India
Tuesday 25 de June 2024 / 12:00
2 minutos de lectura
(India).- The Finance Ministry conducted the 53rd Goods and Services Tax (GST) Council Meeting in New Delhi June 22. The meeting was chaired by Finance Minister Nirmala Sitharaman. While the meeting's agenda remains undisclosed, the Council is expected to address several key matters.
The session marks the first GST Council meeting in eight months, following the 52nd meeting on October 7, 2023, where a 28% levy on online gaming, casinos, and horse racing was decided.
The review of this levy, initially scheduled for April 2024, was postponed in the March meeting.
Here are some of the key expectations from today’s meeting:
Review of online gaming tax
The government is anticipated to review the 28% GST on the full face value of bets by online gaming companies.
Last year, amendments to GST laws included online gaming, casinos, and horse racing as taxable actionable claims.
The review, initially planned for April 2024, has yet to occur. The online gaming industry faces a tax liability of approximately Rs 2 lakh crore, which they have contested in court.
The Supreme Court is expected to hear their appeals in July.
Following the Council's decision, over 70 show cause notices have been issued to online gaming companies for alleged GST evasion of over Rs 1.12 lakh crore during the 2022-23 and 2023-24 financial years.
Categoría:Legislation
Tags: Sin tags
País: India
Región: Asia
Event
SBC Summit Americas 2025
13 de May 2025
Redefining Innovation: Soft2Bet’s Market-Ready Tech and Experiential Advancements at SBC Summit Americas
(Fort Lauderdale, SoloAzar Exclusive).- In this Q&A, Slobodan Georgijevski, Soft2Bet Senior Sales Manager, highlighted innovation and presence of the firm at recent SBC Summit Americas, and shared a broader industry insight and evolution over the years.
Friday 06 Jun 2025 / 12:00
Belatra Games Unveils 'Cyber Gypsies' and AI-Driven Innovations at SBC Summit Americas 2025
(Fort Lauderdale, SoloAzar Exclusive).- At SBC Summit Americas 2025, Belatra Games took center stage with groundbreaking innovations, introducing its newest slot experience, Cyber Gypsies. Alongside this thrilling launch, it reinforced its commitment to AI, gamification, and player protection, setting a new standard for engaging and responsible gaming. But what makes these innovations stand out, and how is Belatra redefining industry trends? Let’s dive in.
Thursday 05 Jun 2025 / 12:00
Blokotech at SBC Summit Americas: Cutting-Edge Launches and New Features
(Fort Lauderdale, SoloAzar Exclusive).- In an exclusive interview with SoloAzar, Alberto Alfieri, Blokotech Co-Founder & Executive Chairman, discussed the innovations the company presented at SBC Summit Americas 2025 and how they address the industry's evolving needs, among other topics.
Monday 02 Jun 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.