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Online Gaming
Image Credit: PIB

GST Council Meet: 28% GST to be levied on online gaming, horse racing, casinos

| @indiablooms | Jul 12, 2023, at 05:30 am
#GST #GSTCouncil #OnlineGaming #NirmalaSitharaman

New Delhi: The Group of Ministers (GoM) attending the 50th GST Council Meeting on Tuesday reached a decision to impose a 28 percent Goods and Services Tax (GST) on the entire value of online gaming, horse racing, and casinos.

"GST Council has decided that online gaming, casinos and horse racing will be taxed at 28 percent at entry point on full face value of bets," FM Sitharaman said.

Finance Minister Nirmala Sitharaman stated that modifications will be made in the GST law to explicitly specify that online gaming, horse racing, and casinos are not classified as actionable claims, similar to lottery and betting.

This clarification aims to provide clear guidance on the taxation of these activities under the Goods and Services Tax (GST) framework.

"GST Council’s discussions today on online gaming were substantive. The Council will ensure it is in touch with IT ministry. We will align with the regulation the ministry brings in," the FM added.

However, the effective date for the 28 percent GST levy on online gaming will roll out after amendments to GST law, Sitharaman clarified.

"The GST Council’s intention is not to hurt the online gaming industry or states with casinos. A few states shared their concerns. But there is a moral question: can we encourage them more than essential goods? So I am proud to say that the GST Council discussed and understood the matter deeply and took a decision that had been pending for 2-3 years. The issue is very complex," Finance Minister Sitharaman said.

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