Monday, July 22, 2024
Outlook India
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Gst Council

The 28 per cent GST on real money gaming has come into effect from 1st October

Finance Minister Nirmala Sitharaman has announced that a 28 per cent GST on the full-face value of bets placed on online games will be implemented from October 1

In its 50th meeting earlier this month, the Council headed by Finance Minister Nirmala Sitharaman decided to levy the maximum 28 per cent tax on the full face value of bets in online gaming, casinos and horse racing

The development came after 100 online gaming companies and industry associates urged the centre to revise the 28 per cent GST rate

Online gaming players have expressed disappointment with the decision of the Goods and Services Tax Council to levy a 28 per cent tax on online games involving real money

GST Council decision to impose a 28 per cent tax has been unanimously opposed by the online gaming industry.