GST Levy on Online Gaming: The Story so FarBy Namaskar Acharya - - 2 mins readThe online gaming industry in India has experienced significant growth, becoming one of the largest markets globally. In the 50th GST Council meeting held on July 11, 2023, the GST Council recommended levying of 28% GST on the full face value on Online Gaming, Casinos & Horse racing, irrespective of whether these activities are considered games of skill or games of chance. Online gaming is typically skill-based, while online gambling is typically chance-based. This means that in online gaming, players can use their skills and knowledge to improve their chances of winning, while in online gambling, the outcome of the game is determined mostly by luck. However, experts said the definitions of “online gaming”, “online money gaming”, “specified actionable claim”, and “virtual digital asset” in the amendment are still ambiguous.

Source: Mint October 02, 2023 08:22 UTC