HomeNewsIndia NewsFrom October 1st 28% Of Gst Will Be Imposed For Online Gaming

From October 1st 28% Of Gst Will Be Imposed For Online Gaming

The GST Council has decided that 28% GST will be applied to online gaming, horse racing and casinos. The gaming companies and gamers asked to revise the decision saying it may affect the growth of startups. 

28% of GST will be imposed for online gaming. 1

The Finance Minister Sitharaman said at the GST Council meeting that a 28% tax on online gaming would go into force on October 1. The meeting’s main agenda was to examine the taxation structure for online gambling in India.

Following the 51st GST Council meeting, Union Finance Minister Nirmala Sitaraman stated, “…the council recommended that valuation of supply on online gaming & actionable claims in casinos may be done based on the amount paid or payable or payable to or deposited with the supplier by/or on behalf of the player, excluding the amount entered into the games, bets out of previous game winnings and not on the total value of each bet placed…”

The Goods and Services Tax (GST) Council meeting was held virtually today and decided that the implementation of 28% of tax will only be reviewed after six months. Finance Minister Sitharaman also clarified that GST will be imposed at the entry-level (amount deposited with online platforms), not on all bets or wins. She also added that Delhi requested for reviewing the decision to levy a 28% GST on online gaming. Goa and Sikkim are also not happy with the decision and stated that the decision will hurt their revenues. Goa requested that the tax be levied on gross gaming revenue (GGR) rather than face value.

In the 51st meeting, held virtually on August 2, the Goods and Services Tax (GST) Council voted to assess the 28% tax levied on online gaming and casinos six months after it goes into force on October 1, 2023.

The GST Council previously resolved to apply a standard 28% tax on full face value for internet gaming, casinos, and horse racing. As a result, the major online gaming companies and their CEOs have continued to ask the government to reverse the decision, fearing that it will stifle the growth of new-age startups.

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