Legislation

GST Council Meeting: Tax on online gaming reviewed in India

Tuesday 25 de June 2024 / 12:00

⏱ 1 min read

(India).- The Finance Ministry conducted the 53rd Goods and Services Tax (GST) Council Meeting in New Delhi June 22. The meeting was chaired by Finance Minister Nirmala Sitharaman. While the meeting's agenda remains undisclosed, the Council is expected to address several key matters.

GST Council Meeting: Tax on online gaming reviewed in India

The session marks the first GST Council meeting in eight months, following the 52nd meeting on October 7, 2023, where a 28% levy on online gaming, casinos, and horse racing was decided.

The review of this levy, initially scheduled for April 2024, was postponed in the March meeting.

Here are some of the key expectations from today’s meeting:

Review of online gaming tax

The government is anticipated to review the 28% GST on the full face value of bets by online gaming companies.

Last year, amendments to GST laws included online gaming, casinos, and horse racing as taxable actionable claims.

The review, initially planned for April 2024, has yet to occur. The online gaming industry faces a tax liability of approximately Rs 2 lakh crore, which they have contested in court.

The Supreme Court is expected to hear their appeals in July.

Following the Council's decision, over 70 show cause notices have been issued to online gaming companies for alleged GST evasion of over Rs 1.12 lakh crore during the 2022-23 and 2023-24 financial years.

Categoría:Legislation

Tags: Sin tags

País: India

Región: Asia