Picture : Twitter/ ANI
The all-powerful Goods and Services Tax (GST) Council has decided to impose a 28 per cent tax on the turnover of online gaming companies, horse racing and casinos, finance minister Nirmala Sitharaman said.
As report by PTI, The panel, headed by the Union finance minister and comprising of representatives of all states and UTs, decided on tax rate based on recommendation of a group of ministers that looked at taxing casinos, horse racing and online gaming.
#WATCH | Union Finance Minister Nirmala Sitharaman, says “We have offered exemption on GST for satellite launch services provided by private organisations… Online gaming, horse racing and casinos will be taxed at 28% (all three activities) and they will be taxed on full face… pic.twitter.com/vFGCHfaCFy
— ANI (@ANI) July 11, 2023
The issue before the GoM (group of ministers) was whether to impose a 28 per cent GST on the face value of bets, or gross gaming revenue, or just on platform fees.
