In the previous meeting, the GST Council decided to levy a uniform 28% tax on full face value for online gaming, casinos, and horse racing. GST on online gamingOn 11 July, the GST Council approved levying a 28% tax on the full face value of bets in online gaming, casinos, and horse racing. 51st GST Council meeting: Key expectationsThe Council is likely to approve a clear definition of actionable claimsThe GST Council may also include online money gaming in the definition of online gaming. GST Council is likely to define online gaming as those offered on the internet or e-network, including money gaming’. GST Council may insert a definition of “virtual digital asset” in GST Law as defined under IT Act.

Source: Mint August 02, 2023 12:23 UTC