#Conrad Sangma

CNBC TV 18

Gst Gom Report On Online Gaming, Casinos, Race Courses Finds No Consensus, Say Officials

The much awaited GST Council nominated Group of Ministers (GoM) report on taxation of online gaming, casinos and race courses was submitted by convener-Meghalaya Chief Minister Conrad Sangma to union Finance Minister Nirmala Sitharaman on Thursday. Sangma, after presenting the report said that the GoM could not arrive at a consensus and has…

Law ・ 27 December 2022

Brand Equity

GST Council decriminalises some types of offences, defers call on online gaming, horse racing and casinos

online gaming, horse racing and casinos. The Council also increased the monetary threshold for launching prosecution for some GST offences."GST Council agreed to decriminalise certain offences, and the threshold of launching prosecution has been doubled to Rs 2 crore," said Revenue Secretary Sanjay Malhotra.Malhotra added that GST on online gaming…

Industry ・ 21 December 2022

The Indian Express

GST on online gaming, casinos, racing: issues in the debate

The final call about the valuation mechanism, however, will be taken by the GST Council as the GoM members have differed on whether it should be levied on the platform fee or the entire amount paid by the participants. The panel, which met on Tuesday (November 22), is likely to fall back on the initial report presented before the GST Council in…

Industry ・ 18 December 2022

Financial Express

28% GST on gambling-like online games

Online games where winning is dependent on a certain outcome would attract 28% GST on the full bet value, Central Board of Excise and Customs chief Vivek Johri said on Saturday, even as the report of a group of ministers on the contentious issue is still awaited by the GST Council. "The view of the department on levying GST on online gaming is very…

Industry ・ 18 December 2022

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Hindustan Times

GST: GoM on online gaming, casinos submits report to Sitharaman

The panel of state ministers set up by the GST Council to look into taxation of online gaming and casinos on Thursday submitted its report to Finance Minister Nirmala Sitharaman. The GST Council, chaired by Sitharaman, may take up the report in its next meeting on Saturday (December 17). "Presented the Second Report of the Group of Ministers (GoM)…

Industry ・ 17 December 2022

Kashmir Life

GST fail to reach a consensus on online gambling and gaming in India

A proposed blanket tax rate of 28% on goods and services could severely hamper the booming gaming and gambling sector in India. This rate hike on Goods and Services Tax (GST) would be applicable to all types of online gaming. Currently, the GST is 18%, and an increase to 28% is believed to make it unviable for many companies to conduct business in…

Law ・ 15 December 2022

Firstpost

Here's why Ministers are recommending uniform 28% GST on online gaming, casinos, horse racing

The online gaming sector in India is one of the fastest-growing sectors in the media and entertainment space. In a bid that is expected to hit the nascent online gaming industry in the country, the ministers on Tuesday reiterated that the goods and services (GST) tax be hiked by 10 per cent to the uniform slab of 28 per cent, irrespective of…

Industry ・ 25 November 2022

Outlook

GST Council Meeting Delayed As States’ Ministers Undecided On Tax Formula On Casinos, Horse Racing And Online Games

The Goods and Services Tax (GST) Council meeting that was scheduled to be held in August this year has been delayed as the group of ministers' (GoM's) report for levying of GST on online gaming, horse racing, and casinos is yet to decide on whether to classify such games as games of skill or games of chance, a senior state government official told…

Finance ・ 04 October 2022

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India Legal

Centre Expected to Tax Online Gaming and Gambling Separately, Avoid Debate on Regulation

Group of Ministers delaying final say on GST rates for online games, relying on more feedback from industry stakeholders and legal counsel. However, experts warn that casinos, horse racing and online skill games are not only dissimilar but they also need a well-structured legal framework for taxation to actually work. The Group of Ministers (GoM)…

Finance ・ 04 October 2022

New Indian Express

GST Panel may not treat online gaming as gambling- The New Indian Express

NEW DELHI: The Group of Ministers (GoM) on casinos, race courses and online gaming are open to considering different rates and valuation methods for all three games. This necessarily means that the GoM may have agreed to the demand for not treating the online gaming industry as betting or gambling. The shift in the stance of GoM happened after its…

Industry ・ 06 September 2022

Financial Express

GST on Online Gaming: GoM to tax casinos, gaming and horseracing separately

The Group of Ministers (GoM) on Monday decided to tax horse racing, online gaming and gambling separately, delivering a win for the gaming industry. While the GoM is still undecided and has seeked legal opinion before submitting the final report of the goods and services tax (GST) levied on the industry, the report will no longer club online gaming…

Finance ・ 06 September 2022

CNBC TV 18

I-T Dept Tells Online Gaming Winners To ‘Voluntarily’ Pay Taxes; Indian Company Under Scanner

Direct tax officials are believed to be scrutinising data of winnings for up to Rs 58000 crore over the past three years on an Indian online gaming platform. A GoM meet on GST for online games is on today. The Income Tax Department has urged winners of online games to disclose their incomes, file updated income tax returns (ITR-U) and pay the…

Finance ・ 06 September 2022

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Financial Express

Bengal, UP back 28% GST on full value for online gaming

West Bengal and Uttar Pradesh on Monday supported goods and services tax (GST) on online gaming, horse racing and casinos at a uniform rate of 28% on the full value of the consideration, without making a distinction between games of skill or chance, even as the group of ministers (GoM) on the matter sought legal advice. The GoM will take legal…

Industry ・ 06 September 2022

Business Today

GST on online gaming, casinos and horse racing soon, might be put in 28% slab

The Group of Ministers (GoM) met on Monday in New Delhi to talk about levying GST on online gaming, casino and horse racing. The GoM is open to considering all three games as different and is further looking at legal opinion on the applicable rate and valuation base that will be considered for levying GST on all three formats. Meghalaya Chief…

Industry ・ 06 September 2022

Business Standard

GoM on casinos, online gaming taxation may finalise report in 7-10 days

A panel of state finance ministers on taxation of casinos and on Monday met and decided to seek legal opinion on valuation criteria for all these segments. The Group of Ministers (GoM) headed by Meghalaya chief minister Conrad Sangma said, "After taking the opinion of stakeholders and after successive meetings to seek the suggestions of all…

Finance ・ 05 September 2022

StudyCafe

GoM meeting on valuation of GST on casinos, online gaming and horse racing

GoM meeting on valuation of GST on casinos, online gaming and horse racing The Group of Ministers (GoM) Meeting will be held to discuss the valuation mechanism for GST to be levied on casinos, online gaming, horse racing. 1. GoM on casinos, online gaming and horse racing to meet today. 2. GoM to form consensus on valuation mechanism for GST to be…

Industry ・ 05 September 2022

Business Standard

GoM on online gaming, casinos: No consensus yet on 28% GST on gross revenue

An empowered group of ministers (GoM) tasked by the (GST) Council to look into taxation of online gaming, races and casinos is yet to reach a consensus about imposing 28 per cent levy on gross gaming revenue (GGR). The group may take one or two weeks to finalise the report, although it was expected to be submitted by Wednesday. The panel headed by…

Finance ・ 11 August 2022

Brand Equity

online gaming: GoM on casinos, online gaming, horse racing to submit report to FM Nirmala in a day or two: Sources

ministers on taxation of casinos and online gaming is likely to submit its report to Finance Minister Nirmala Sitharaman in a day or two, government sources said on Thursday. The GST Council is likely to meet towards the end of this month or early September and discuss the report of the Group of Ministers (GoM), the sources added. The GoM, under…

Industry ・ 11 August 2022

Business Standard

GoM on casinos, online gaming to submit report to FM in 1-2 days: Report

A panel of state finance ministers on taxation of casinos and online gaming is likely to submit its report to Finance Minister Nirmala Sitharaman in a day or two, government sources said on Thursday. The GST Council is likely to meet towards the end of this month or early September and discuss the report of the Group of Ministers (GoM), the sources…

Industry ・ 11 August 2022

Mint

GST on online gaming, casinos? Here's what is on proposal

A panel of states' finance ministers is likely to submit their report on taxation of casinos and online gaming to FM Nirmala Sitharaman in a day or two, as per a report by PTI news agency. At present, the current rate of GST on this sector of the online skill gaming industry is 18% on the Gross Gaming Revenue (GGR) and 0% on Contest Entry Fee…

Industry ・ 11 August 2022

ABP News Live

Online Gaming Regulation Tamil Nadu Invite Stakeholder General Public Input Legislation Rummy Poker Gambling Nirmala Sitharaman Gom Gst

In order to regulate online gaming, the Tamil Nadu government now seeks input from the public on proposed legislation to control games such as online rummy. The development follows reports of at least 20 deaths by suicide that surfaced recently in the state owing to financial debts stemming from such games, including that of a woman who had to deal…

Rummy Games ・ 10 August 2022

Hub News

IAMAI Joins Online Gaming Industry Bodies in Warnings against Proposed GST Hike on Online Gaming

The Internet and Mobile Association of India (IAMAI) has issued an open letter urging the Central Government and the GST Council to preserve the status quo regarding Goods and Services Tax levy on online gaming. Currently, online gaming companies are charged 18 percent GST over their Gross Gaming Revenue (GGR) leaving the Contest Entry Fees (CEF)…

Industry ・ 28 July 2022

India Infoline

GoM on GST on Casinos will hear industry stakeholders on 23rd and 24th July

On July 23 in Bengaluru and on July 24 in Goa, the ministerial panel on casinos, racetracks, and internet gaming will convene in order to hear from the gambling and horse racing industries on the taxes of their respective industries. The GoM will likely hear from Bangalore Turf Club about a variety of racing-related topics, including GST-related…

Industry ・ 21 July 2022

Financial Express

GST GoM on casinos to meet on July 23-24

The ministerial panel on casino, race course and online gaming will meet on July 23 in Bengaluru and on July 24 in Goa to get industry perspective on taxation of horse racing and casinos, respectively. Bangalore Turf Club will likely make a presentation to the GoM on various aspects of the racing and issues related to GST. In Goa, the GoM will…

Winnings ・ 21 July 2022

Sakshi Post

28 Pc GST On Online Gaming, Casinos And Horse Racing

It is reported that the finance ministers of Goa, Uttar Pradesh, Gujarat, Tamil Nadu, Maharashtra, and revenue officials of Telangana will finalize the imposition of GST on online gaming, casinos, and horse racing. The GST council has been mulling increasing the tax on online gaming to 28 percent. The GST Council has given the Group of Ministers…

Industry ・ 18 July 2022

News18

GST: GoM Meet On Casino, Online Gaming Remains Inconclusive; To Meet Again Next Month

GoM members were all on board on levying a 28 per cent GST on all three activities - online gaming, casinos and race courses. Goods and Services Tax (GST): The group of ministers (GoM) on casinos, online gaming and horse racing, which has been tasked with examining the issue of levying a 28 per cent GST on these activities, met on Tuesday and the…

Industry ・ 13 July 2022

Business Standard

GST: GoM to finalise report on casinos, online gaming by Aug 10

The state finance ministers' panel looking to bring online gaming and casinos under GST failed to reach a consensus on Tuesday and decided to finalise its report by August 10. Officials said the Group of Ministers (GoM) held a virtual meeting on Tuesday and discussed various methods of taxation of casinos, horse racing and online gaming. The panel…

Industry ・ 12 July 2022

Mint

GST on online gaming, casinos: Group of Ministers to finalise report by 10 Aug

The Group of Ministers (GoM) will finalise its report on taxing casinos, online gaming and horse racing by 10 August. In a virtual meeting held on Tuesday, the GoM discussed various methods of taxation of casinos, horse racing and online gaming. According to reports, the state finance ministers' panel looking to bring online gaming and casinos…

Industry ・ 12 July 2022

Devdiscourse

GST: Group of Ministers to finalise report on casinos, online gaming by Aug 10

The state finance ministers' panel looking to bring online gaming and casinos under GST failed to reach a consensus on Tuesday and decided to finalise its report by August 10. Officials said the Group of Ministers (GoM) held a virtual meeting on Tuesday and discussed various methods of taxation of casinos, horse racing and online gaming. The panel…

Industry ・ 12 July 2022

Zee News

Will GST on casino, online gaming, horse racing be hiked from 18% to 28%? Crucial GOM meet to decide today

New Delhi: The meeting of the Group of Ministers (GoM) will be held on Tuesday to decide on GST tax bracket for casinos, online gaming and horce racing. On May 29, while all eyes were set on extension of GST compensation mechanism for states and a highest 28 percent tax rate on online gaming, casinos and horse racing, a GoM report on online gaming,…

Industry ・ 12 July 2022

CNBC TV 18

West Bengal Pushes For 28% Gst To Discourage Online Gaming And Casinos A Day Before Panel Meets

West Bengal finance minister Chandrima Bhattacharya has told Network18 that the state would advocate a 28 percent goods and services tax (GST) charge to discourage online gaming, casinos, and horse racing. This comes after Goa objected to an earlier recommendation and said that casinos needed to be treated differently.The Group of Ministers (GoM)…

Industry ・ 11 July 2022

Financial Express

GST GoM on casinos and online gaming to meet on Tuesday: UP minister

The ministerial panel on casino, race course and online gaming will meet on Tuesday to finalise its report on taxing these activities, ahead of the Goods and Services Tax (GST) Council meeting in the first week of August, Uttar Pradesh finance minister Suresh Kumar Khanna said on Friday while speaking at an industry body Ficci event here. The…

Industry ・ 09 July 2022

Brand Equity

gst on online gaming: GoM on GST levy on casinos, online gaming to meet on July 12

The Group of Ministers (GoM) on casinos, online gaming and horse racing will meet on Tuesday to finalise its report on modalities taxing these activities that are akin to gambling. The GST Council, comprising the Centre and state finance ministers, had referred back the report to the GoM for further discussion and set a deadline of July 15 for the…

Industry ・ 09 July 2022

Financial Express

GoM on GST levy on casinos, online gaming to meet on July 12

The Group of Ministers on casinos, online gaming and horse racing will meet on Tuesday to finalise its report on modalities taxing these activities that are akin to gambling. The GST Council, comprising the Centre and state finance ministers, had referred back the report to the Group of Ministers (GoM) for further discussion and set a deadline of…

Industry ・ 08 July 2022

Mint

Decision on GST levy on casinos and online gaming on July 12

The Group of Ministers on casinos, online gaming and horse racing will meet on July 12 to finalise its report on modalities taxing these activities that are akin to gambling. The GST Council, comprising the Centre and state finance ministers, had referred back the report to the Group of Ministers (GoM) for further discussion and set a deadline of…

Industry ・ 08 July 2022

TalkEsport

GST Council may not increase the tax rate on online gaming, casinos

The GST Council adjourned the Group of Ministers on imposing 28% goods and services tax (GST) on casinos, online gaming, and lottery. The GoM formed under the orders of the GST Council is asked to submit the report on the issue after 15 days. Headed by Meghalaya chief minister Conrad Sangma, the members will review its proposals. The GoM will…

Finance ・ 04 July 2022

Brand Equity

Group of Ministers may not tweak 28% GST on online gaming, casinos

The group of ministers (GoM) reviewing the goods and services tax slabs for online gaming, horse racing and casinos is unlikely to tweak the 28% rate recommended for these activities, people aware of discussions said. The GST Council has given the GoM, headed by Meghalaya chief minister Conrad Sangma, time till July 15 to review its proposals. The…

Industry ・ 04 July 2022

India Today

GST council defers 28% tax on online gaming, casinos and horse racing

The GST Council on Wednesday deferred the proposal to levy a 28 per cent tax on online gaming, casinos and horse racing. The council during the second day of its meeting in Chandigarh sent the proposal back to a Group of Ministers (GoM) on casinos, horse racing and online gaming to re-examine the issues after holding discussions with the states and…

Finance ・ 30 June 2022

City Today

GST Council defers 28% tax on casinos, online gaming, horse racing and lottery

Prime News, National, Finance, Taxes, Chandigarh, June 30:- The GST Council on Wednesday (June 29) deferred a decision on levying a 28 percent tax on casinos, online gaming, horse racing and lottery pending more consultations with stakeholders, Union Finance Minister Nirmala Sitharaman said. A group of ministers headed by Meghalaya Chief Minister…

Lottery ・ 30 June 2022

Hindustan Times

Casinos, online gaming, horse racing likely to pay 28 per cent GST: Report

The GST Council in its meeting this week is likely to vet a proposal of the panel of state finance ministers on levying 28 per cent GST on online gaming, casinos and horse racing, sources said. The Group of Ministers, headed by Meghalaya Chief Minister Conrad Sangma, has recommended that online gaming should be taxed at full value of the…

Industry ・ 27 June 2022

Daily Excelsior

28 pc GST likely on Casinos, Online gaming

NEW DELHI, June 26: The GST Council in its meeting this week is likely to vet a proposal of the panel of State Finance ministers on levying 28 per cent GST on Online gaming, casinos and horse racing, sources said.The Group of Ministers, headed by Meghalaya Chief Minister Conrad Sangma, has recommended that online gaming should be taxed at full…

Industry ・ 26 June 2022

Business Standard

28% GST likely on casinos, online gaming and horse racing: Report

The GST Council in its meeting this week is likely to vet a proposal of the panel of state finance ministers on levying 28 per cent GST on online gaming, casinos and horse racing, sources said. The Group of Ministers, headed by Meghalaya Chief Minister Conrad Sangma, has recommended that online gaming should be taxed at full value of the…

Industry ・ 26 June 2022

Zee News

28% GST likely on casinos, online gaming, horse races on gross revenue: Report

New Delhi: The GST Council in its meeting this week is likely to vet a proposal of the panel of state finance ministers on levying 28 per cent GST on online gaming, casinos and horse racing, sources said. The Group of Ministers, headed by Meghalaya Chief Minister Conrad Sangma, has recommended that online gaming should be taxed at full value of the…

Finance ・ 26 June 2022

United News Of India

Big News For Casino Lovers Online Gamblers horse racing in Meghalaya Details Here

Shillong: The northeastern state of Meghalaya has agreed to make big plans to bring casino and online gambling and gaming for tourists to rake in the much needed revenues in the state. Keeping the following in mind, a Group of Ministers (GoM) has agreed to recommend hiking the GST rate on casino, race course and online gaming services to 28 per…

Sports ・ 19 May 2022

Business Standard

GoM calls for 28% GST on online gaming, casinos; tax likely on face value

An empowered group of ministers (GoM) - set up to look into taxation of online gaming, casinos and races - has unanimously proposed a flat 28 per cent goods and services tax (GST) on these activities. The panel of ministers, which met on Wednesday, also decided that the tax will be levied on the entire "face value" or "bet amount" and not on the…

Finance ・ 19 May 2022

India Today

State finance ministers recommend 28% GST on online gaming, racecourses, and casinos

Online gaming platforms, racecourses, and casinos will have to shell out 28% GST on the gross gaming revenue if the recommendation of a group of state finance ministers is accepted by the GST Council. (Representative image) A group of state finance ministers set up to explore the quantum of GST and mode of taxation on casinos, racecourses, and…

Industry ・ 19 May 2022

Business Standard

Top headlines: Elbers appointed as IndiGo CEO; GST hike likely on casinos

KLM veteran Pieter Elbers to replace Ronojoy Dutta as IndiGo CEO from Oct 1 The country's largest domestic budget carrier IndiGo on Wednesday announced the appointment of Pieter Elbers as its Chief Executive Officer, replacing incumbent Ronojoy Dutta. The 71 year-old Dutta, who came to helm the airline in January 2019, has decided to retire on…

Industry ・ 18 May 2022

Northeast Now

Meghalaya: GoM reaches consensus on casinos, online gaming and racecourses

The group of ministers (GoM) has reached a consensus on matters relating to the GST regulations on casinos, racecourses and online gaming in Meghalaya. The GoM was set up by the union finance ministry. This was informed by Meghalaya chief minister Conrad Sangma on Wednesday after meeting the GoM. The GoM met Meghalaya chief minister Conrad Sangma…

Industry ・ 18 May 2022

Outlook

28 Percent GST On Online Gaming? Industry Reckons May 18 Could Be 'Doomsday'

May 18 could be D-Day for the online gaming sector. More specifically, for the real money gaming domain that operates in India in various "skill-based" forms like fantasy cricket, rummy, poker, roulette, ludo, and even snakes and ladders! () For years, the Centre has deflected the issue of gambling/betting to the states under whom the matter lies…

Industry ・ 17 May 2022

East Mojo

More jobs or another vice? Gambling plan has Meghalaya divided

Shillong: First and foremost, the facts: Meghalaya has witnessed offline, and later, online gambling, for the past few decades and most of it has been unregulated. We must also note that the Meghalaya Regulation of Gaming Act, 2021 was passed by the Cabinet in December 2021. Then why is gambling, or the idea of gambling, making news now? Why are…

Jobs ・ 09 May 2022

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Brand Equity

GoM likely to moot flat 28% GST slab for online gaming

A group of ministers (GoM) tasked by the Goods and Services Tax Council to look into taxation of online gaming, races and casinos is likely to suggest a flat rate of 28%.A final recommendation on the rate, as also on whether the levy should be on the gross gaming revenue or per transaction, is likely to be made when the GoM meets again next week,…

Industry ・ 02 May 2022

Financial Express

GST on Online Gaming needs to be looked differently than Casinos and Horse Racing

The GST Council and Ministry of Finance had constituted a Group of Ministers (GoM) to determine the GST rate and taxation on Casinos, Race Courses and Online Gaming which was subsequently reconstituted again and is scheduled to meet on 2nd May 2022 under Meghalaya Chief Minister Conrad Sangma. There have also been well established decisions by…

Industry ・ 30 April 2022

The Shillong Times

Will more states follow Meghalaya gambling regulation?

While many are still debating on if gambling should be allowed or not, Meghalaya has taken a step to legalize gambling. In March 2021, a new gaming regulation was passed to allow for legal gambling. This comes after states like Andra Pradesh and Tamil Nadu banned all forms of online casino and betting. The decision to effect the was initially…

Law ・ 21 September 2021