GoM meeting on valuation of GST on casinos, online gaming and horse racing
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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 levied on casinos, online gaming, horse racing.
Horse racing, online gaming, and casinos are similar to betting or gambling, hence the GoM, led by Meghalaya Chief Minister Conrad Sangma, had previously recommended to the GST Council that a 28% GST be imposed on gross sales value.
In regards to casinos, Previously the GoM had suggested that the tax be applied to the entire face value of the chips or coins that a player had bought from a casino. The value of bets placed in each round of betting, including bets placed with winnings from earlier rounds, would not be subject to further GST.
In the case of racecourses, the GoM had proposed that GST be applied to the full value of bets placed with bookmakers and pooled in totalisators.
