Betting, casinos, horse racing, online games to be taxed at 28%: FM
On July 11, the GST council decided that there will be a 28 per cent GST levy on full value of gaming, horse racing and casinos. The gaming industry had urged the FM to revoke the decision.
New Delhi: Betting, gaming related activities, casinos, horse racing and online games will be taxed at 28 percent GST at face value, informed Union Finance Minister Nirmala Sitharaman after the 51st GST Council meeting on Wednesday. ANI tweeted her statement today.
Union Finance Minister Nirmala Sitharaman after the 51st GST Council meeting says, “The council in its last meeting had taken a decision about taxing, all the betting, gaming related activities, casinos, horse racing, online games… It was decided that all of them will be taxed at 28% GST at face value” reads the tweet by ANI.
The GST Council is the highest decision-making body of the new indirect tax regime. It comprises the Union finance minister and representatives of all states.
The meeting of the GST council was headed by Finance Minister Nirmala Sitharaman.
On July 11, the GST council decided that there will be a 28 per cent GST levy on full value of gaming, horse racing and casinos.
The decision had led to disappointment in the gaming industry, which had even written to the finance ministry, urging it to revoke the decision.
After last month’s meeting, a law committee consisting of Central and state tax officers, had prepared draft rules for consideration by the GST council, on computation of supply value for tax purposes.
Ms Kalinga