#GoM

The GST Council declared the decision during its 50th GST Council meeting. The GST has not confirmed when the rate will be begin, although amendments to existing legislation will be necessary to facilitate the tax. The new tax will be applied to the full-face value of a bet, rather than gross gaming revenue (GGR), making it a turnover-based tax. In…

The latest announcement of a tax increase by the GST council on the online real money gaming industry has sent shockwaves through businesses like Dream11, MPL, Crickpe, Games24x7, and players in the industry. In fact, the move has apparently jeopardised their future growth plans and their existence. The GST council, led by the formidable Union…

The Enforcement Directorate has attached Rs 212.91 crore proceeds of crime (PoC) in cases where online betting and gambling sites/apps were used for money laundering and hawala transactions, Parliament was informed on Tuesday. In a written reply in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said the Directorate of Enforcement…

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…

The Directorate General of GST Intelligence (DGGI) has issued a INR 21000 crore show-cause notice to the Karnataka based online gaming company, Gameskraft Technologies Private Limited on the pretext of not depositing GST for the period between 2017 and June 2022. Amidst the Gameskarft controversy, the GST Council has constituted a panel of Group of…

The Union Ministry of Finance stated on December 20 that there is no intention to legalise online gambling and that it is subject to 28% Goods and Services Tax (GST). "Actionable claims in the form of betting and gambling including those arising from online gaming attract 28% GST and the GST Act does not make the levy dependent on whether it is a…

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…

has attached Rs 212.91 crore proceeds of crime (PoC) in cases where online betting and gambling sites/apps were used for money laundering and hawala transactions, Parliament was informed on Tuesday. In a written reply in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said the Directorate of Enforcement is investigating several…

The Enforcement Directorate has attached Rs 212.91 crore proceeds of crime (PoC) in cases where online betting and gambling sites/apps were used for money laundering and hawala transactions, Parliament was informed on Tuesday. In a written reply in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said the Directorate of Enforcement…

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…

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…

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)…

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…

NEW DELHI: The online gaming industry will be okay with a 28% GST if the tax is levied on the commission/fee earned by the platforms and not the total pooled amount. Roland Landers, CEO of the All India Gaming Federation (AIGF), on Thursday said if the government settles the valuation aspect of the GST in the industry's favour, it will be okay with…

To bring about uniformity in the industry, the central government is exploring the need for a central regulatory framework. The policymakers have begun consultations and discussions for such a framework, a report by Economic Times (ET) said. The regulator will have power to block unregistered gaming platforms. The operators will reportedly be asked…

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…

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)…

A panel of Prime Minister Narendra Modi's top officials have said that India needs to have a regulatory body which will classify online games based on skill or chance. The body should also impose strict rules to ensure prohibited formats remain blocked and to come down hard on gambling websites, as per a report prepared by the government panel, as…

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…

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…

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…

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…

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…

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…

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…

New Delhi, September 4|Updated on:Sep 04, 2022 The Income Tax Department has urged'winners' of ₹58000 crore during the last three years on an online gaming platform to come forward and file updated or revised return and pay the required taxes. A Group of Ministers (GoM) is meeting on Monday to finalise its recommendations for GST on online gaming,…

The Tamil Nadu government is looking to introduce regulations on online gaming. The development follows reports of at least 20 deaths by suicide that surfaced recently in the state owing to financial debts stemming from online games, including that of a woman who had to cope with gambling debts allegedly caused by online rummy. For that, the…

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…

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…

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…

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…

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…

The Group of Ministers (GoM) reconstituted to examine taxation of casinos, racecourses, and online gaming recently met with industry bodies and leading operators to discuss the valuation approach for GST in online gaming and attempted to understand how online skill gaming is different from betting and gambling. The GoM heard the legal distinction…

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)…

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…

One of the biggest challenges facing the Governments today is the rapid evolving nature of the digital economy, with which the regulators are struggling to keep pace.In fact, the challenge posed by technology-enabled services means that even if one or few countries devise regulations, businesses can simply shift to another jurisdiction where the…

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…

The issue with taxing casinos, horse racing and online gaming, which the Goods and Services Tax (GST) Council has tasked a group of state ministers (GoM) with, is the treatment of actionable claims that creditors have on debtors. The GST legislation permits taxing such claims only if these involve'lottery, betting and gambling'. To tax the winnings…

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…

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…

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…

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…

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…

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,…

The group of ministers (GoM) meeting today to finalise modalities on taxing casinos, online gaming and horse racing have proposed a GST tax rate hike to 28% from the current 18% on the use of chips bought in a casino and real money online skill gaming. This may seem consistent with leveling the'playing' field with the legacy lottery industry, or…

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)…

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…

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…

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…

Uttar Pradesh finance minister, Suresh Kumar Khanna, who is also a member of the Group of Ministers (GoM) formed to advice the government on GST for online gaming, casinos, and horse racing, while addressing a conference by Federation of Indian Chambers of Commerce & Industry (FICCI), said the panel will meet again on July 12. The meeting will…

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…

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…

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…

By Maulik Nanavati and Manvi Damle The 47 GST Council meeting was held in Chandigarh from June 28-29, 2022. One of the agenda items which got deferred for decision is bracketing of online gaming, including skill gaming, with casinos and horse racing currently taxed at 28% and also a proposal to levy tax on the full contest entry amount instead of…

Union Finance Minister Nirmala Sitharaman on Wednesday categorically termed online gaming "nothing but gambling".Addressing the media at the conclusion of the two-day meeting of the Goods and Services Tax (GST) Council held in Chandigarh, Sitharaman said casinos, horse-racing, and online gaming are all gambling. "Whether it is horse-racing or…

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…

Online gaming gambling: Union Finance Minister Nirmala Sitharaman on Wednesday categorically termed online gaming "nothing but gambling". She also said on the issue of extending the Goods and Services Tax (GST) compensation from June 30, the views of some states were heard so far but nothing was decided. Addressing the media at the conclusion of…

CHANDIGARH: Union Finance Minister Nirmala Sitharaman on Wednesday categorically termed online gaming "nothing but gambling". She also said on the issue of extending the Goods and Services Tax (GST) compensation from June 30, the views of some states were heard so far but nothing was decided. Addressing the media at the conclusion of the two-day…

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…

Chandigarh, Jun 29 (IANS): Union Finance Minister Nirmala Sitharaman on Wednesday categorically termed online gaming "nothing but gambling". Addressing the media at the conclusion of the two-day meeting of the Goods and Services Tax (GST) Council held in Chandigarh, Sitharaman said casinos, horse-racing, and online gaming are all gambling. "Whether…

GoM recommended that online gaming should be taxed at the full value of the consideration. (Photo: ShutterStock) The GST Council on Wednesday deferred the proposal to levy 28 per cent tax on casinos, online gaming, casinos and lottery, as the GST Council has given time till July 15 to the group of ministers (GoM) to re-examine the issues and submit…

The GST rate on casinos, race courses, and online gaming have been subject to much discussion amidst widespread pushback from the online gaming industry, in particular, on the government's recommendation of a blanket hike of Goods and Services Tax (GST) rates on casinos, racecourses, and online gaming from 18 percent to 28 percent. Karnataka Chief…

Chandigarh: Union Finance Minister Nirmala Sitharaman on Wednesday categorically termed online gaming "nothing but gambling". Addressing the media at the conclusion of the two-day meeting of the Goods and Services Tax (GST) Council held in Chandigarh, Sitharaman said casinos, horse-racing, and online gaming are all gambling. "Whether it is…

Team Latestly |Jun 29, 2022 04:34 PM IST Whether horseracing, online gaming or casinos, the common thread as highlighted by the GoM is that they are all essentially gambling: FM @nsitharaman #GSTCouncilMeet pic.twitter.com/IEvi72OQ5A - Prasar Bharati News Services पी.बी.एन.एस. (@PBNS_India) June 29, 2022 (SocialLY brings you all the latest breaking…

GST Council Meet HIGHLIGHTS: The 47th GST Council, headed by Union Finance Minister Nirmala Sitharaman in Chandigarh, discussed and decided on four GoM reports. These were rate rationalization committee; casino, horse trading and lottery, online gaming; IT taxation; and movement of precious metal. FM Nirmala Sitharaman said that online gaming,…

The Goods and Service Tax (GST) Council on Wednesday deferred a decision on the proposal to raise the GST on online gaming from 18% to 28% on the skill gaming to bring it at par with chance games involving gambling and betting, Karnataka chief minister BS Bommai said. "The decision on online gaming has been deferred. There were issues which needs…

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…

NEW DELHI: The government's plan to levy the highest goods and services tax (GST) slab on online gaming has the industry worrying about future growth plans. Industry experts and executives said that it could stunt the growth of online gaming firms and force fantasy sports firms to reduce the prize pools they offer, which could drive their big users…

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…

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…

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…

The GST council will discuss the Group of Ministers' (GoM) report on online gaming, casinos, and race courses and will also discuss law changes to facilitate provision for setting up the GST Tribunals, people in the know of the matter told.The GST council had appointed casinos, and race tracks, taking into account the concerns of both the…

The GST Council, chaired by Finance Minister Nirmala Sitharaman, is scheduled to meet on June 28 and 29 in Chandigarh. The GST Council, which is scheduled to meet next week in Chandigarh, is likely to discuss changes in law to facilitate provision for setting up GST Tribunals. The Council will also discuss the group of ministers' (GoM) report on…

The newly introduced gaming Bill, introduced in the Lok Sabha on 1st April 2022, correctly points out that India has around 420 million active online gamers with a valuation. of $1 Billion and the industry is stated to grow to $5 Billion by 2025. Given the exponential growth of the gaming industry and the lack of regulatory regime to control the…

Blanket Online Gaming Regulation Bill Proposed After a period marked by skirmishes between state governments and high courts over the constitutionality of blanket bans on online gaming, resulting in a number of outright prohibitions to offer games online getting struck down by the judiciary system, the Online Gaming (Regulation) Bill, 2022, was…

The GST Council is likely to meet in the second half of June. The Council may extend timeline for GoM on rate rationalisation by six months. In the upcoming meet, the GST Council is unlikely to correct inverted duty structure with respect to textiles. The Council is likely to maintain status quo on the taxation on textile, sources told…

Some of the Big Bull Rakesh Jhunjhunwala-owned stocks have seen a major correction over the past few months. The latest to join the list is Delta Corporation, a Mumbai-based casino and recreation company. Rakesh Jhunjhunwala owned over 10% of Delta Corp back in 2016. Since then, he has been consistently paring down his holding. According to the…

Uncharted, Evil Dead, Overwatch, Genshin Impact…these are not Hollywood films, but online games that give you a high adrenaline rush every time you dive into them. Every year, the number of online gamers in India surges due to the popularity of these visually enticing, heart-pounding games. According to EY research, the number of online gamers…

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…

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…

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…

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…

18 May seems to be a D-Day for the online gaming sector as the Group of Ministers (GoM) has unanimously decided to impose 28% Goods and Services Tax (GST) on casino, race course and online gaming services. All kinds of online gaming will attract a GST of 28%, according to a CNBC-TV18 report. The structure on which GST will be levied has also been…

The Group of Ministers (GoM) has agreed to recommend hiking the GST rate on casino, race course and online gaming services to 28 per cent, according to sources. In a meeting held on May 2, the GoM discussed various aspects, including the possible GST rates and technicalities, in regard to these activities. After the meeting, GoM Convener and…

By Gunjan Prabhakaran and Payal Thaker The online gaming industry has witnessed significant growth since its emergence way back in the year 2000, showcasing immense growth potential. Within a couple of decades, it grew to become more than a billion-dollar industry and continues to grow exponentially. The trajectory of the growth has been…

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…

There is no clarity on whether this will apply only to real money games or casual games as well, given that the former being a sub-segment of online gaming. The Internet and Mobile Association of India (IAMAI) on Monday urged the GST Council to continue maintaining the GST on online gaming at 18 per cent and any further increase will hamper the…

The Group of Ministers (GoM) on Casinos, Race Courses and Online Gaming convened for the first meeting earlier in the month to deliberate upon the rate and modality of Goods and Service Tax (GST) to be levied on these industries. Members of the GoM have since stated through various external interactions that there have been advanced discussions on…

New Delhi: Satta King or Satta Matka game, which is quite popular among the working class in the country, is often confused with lotteries or online fantasy games. Satta King or Satta Matka game can be losely translated as betting or gambling game. But Gambling is illegal in India. Ever since the British government introduced the Public Gambling…

Horse racing, Casino and online gaming lovers may have to pay higher taxes.

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,…

NEW DELHI:A group of ministers led by Meghalaya chief minister Congrad Sangma that is advising the GST Council on the taxation of casinos, race courses and online gaming which met in the capital on Monday, will meet again later this month to finalise its tax proposals to the Council, Sangma said after the meeting. The Council is currently examining…

The Indian online gaming industry has been flourishing in the past few years with the emergence of new startups and has witnessed a considerable amount of positive economic impact. This sunrise sector in India has gained significant momentum due to the' Digital India' initiative by the Prime Minister which promotes internet access to citizens at…

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…

New Delhi, February 13|Updated on:Feb 13, 2022 The Finance Ministry has reconstituted the Group of Ministers to look into GST-related matters related to casinos, race course and online gaming. However, there is no change in Terms of Reference (ToR) Now, Meghalaya CM K Sangama will be convenor, replacing Nitin Patel, who was dropped from the…

In May, a seven-member group of ministers (GoM) was convened by the GST Council to examine and address taxation issues related to the online real money games India sector. One of the issues was the different tax rates levied to the segments under the umbrella of gambling. For instance, the standardized goods and services tax (GST) places a 28…

GST Sekretariat Moves after Punjab and Haryana HC Order The Indian online gaming industry, casinos, lotteries and racecourses received a major relief from GST enforcement actions until clarifications on GST rates and applicability are issued by the GST council and by the Panel of Ministers specially appointed by it to look into these…

With virtual reality ruling all aspects of our lives, gaming is no exception. Owing to the pandemic, not only adults, playground for kids has also shifted on the screens. The online gaming industry in India has seen exponential growth in terms of both, revenue and usage. It is anticipated that the online gaming industry would grow at a compounded…

Navigating the complex and dynamic Indian legal, taxation and court practice landscape concerning activities like betting, gambling and lottery requires the help and expertise of top specialists. The government is taking steps to assess the situation in view of recommending regulatory changes. India's Goods and Services Tax (GST) Council has formed…

As the popularity of online gambling continues to explode-not just in mobile-first India, but also globally-amid the ongoing coronavirus lockdowns, one important question lingers: when is the right time to regulate the industry? Regulation, market oversight'absent' in India: study A new research carried out by H2 Gambling Capital on behalf of The…