#GST Council

Hindustan Times

Casinos: Goa's trump card or bad bet?

Goa's largest casino operator the Deltin Group and its two subsidiaries, HighStreet Cruises Pvt Ltd and Delta Pleasure Cruise Pvt Ltd, which runs three offshore and one 5-star casino in Goa, possibly the state's single largest tax contributor, are battling multiple notices from the tax authorities that, if penalties are included, amounts to ₹23000…
Law
Casinos: Goa's trump card or bad bet?
India Post

Who are the Real Winners?

Online gaming is one of the world's fastest-growing and most profitable sectors, particularly in India, where millions of individuals enjoy sports betting, casino games, poker, fantasy sports, and other activities. Online gaming is also one of the most contentious and regulated sectors in the world, particularly in India, where the legal status and…
Industry
Super Slots
Mint

Mint Primer: The gamble with online gaming: ₹1.5 trillion in taxes?

The Directorate General of GST Intelligence (DGGI) is serving tax demands worth thousands of crores of rupees on online gaming firms. The demands are up to 10x the revenue of some firms. Why is it making such astronomical demands, and are they substantiated? On 12 September, the DGGI's show-cause notice to Mumbai-based Dream11 claimed GST in line…
Law
Mint Primer: The gamble with online gaming: ₹1.5 trillion in taxes?
Mint

Deposit refunds by casinos, online gaming sites taxable

The finance ministry on Wednesday notified the way deposits made to online gaming platforms and casinos will be treated for tax purposes, clarifying that refunds made to the player will not get any relief on tax. The changes are introduced by amending CGST rules 2017, by way of CGST (Third Amendment) Rules, 2023, which are effective from a date to…
Industry
Deposit refunds by casinos, online gaming sites taxable
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Mint

Parliament clears 28% GST on online gaming, casinos

New Delhi: The Parliament has approved the necessary legislative modifications for implementing the Goods and Services Tax (GST) Council's proposal to levy a 28% tax on the full value of deposits made by individuals to online gaming platforms, casinos, and horse racing clubs. According to a notification issued on Friday, the legislation will be…
Industry
Parliament clears 28% GST on online gaming, casinos
tradebrains.in

Gaming stock falls up to 5% after withdrawing IPO as 28% GST on Casinos will be Implemented from October 01

A gaming company's share price plummeted 8 percent to reach an intraday low of ₹ 181.10 apiece on the National Stock Exchange (NSE) after an announcement in the 51st meeting of the GST Council on August 02, 2023, regarding Goods and Services Tax (GST) on online gaming, casinos and horse racing. At 12:36 PM, Delta Corp's shares were trading at ₹…
Industry
Gaming stock falls up to 5% after withdrawing IPO as 28% GST on Casinos will be Implemented from October 01
MediaNama

Madras HC questions why Tamil Nadu can't ban online gambling

Last week, a Madras High Court bench questioned why Tamil Nadu's competence to ban online gambling was being doubted, given that states have the constitutional jurisdiction to regulate'betting and gambling', reported Times of India. Chief Justice Sanjay Vijaykumar Gangapurwala and Justice P.D. Audikesavulu were hearing the online real money gaming…
Law
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iGaming Business

India sets online gambling tax rate at 28%

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…
Finance
India sets online gambling tax rate at 28%
Yogonet

India approves 28% tax on online gaming, horse racing, and casinos; shares of gambling firms slide after decision

The Goods and Services Tax (GST) Council in India has passed a decision to levy a maximum 28% tax on the full face value of bets in online gaming, casinos, and horse racing. The decision was announced at the 50th Council meeting by Union Finance Minister Nirmala Sitharaman. Online gaming companies will now be required to pay a 28% tax on the entire…
Law
India approves 28% tax on online gaming, horse racing, and casinos; shares of gambling firms slide after decision
Gambling News

Lawmakers in India Consider Imposing 28% Tax On Online Gambling

Image Source: Shutterstock.com The growing gambling industry in India may be subject to a new, increased tax rate, following a decision made by lawmakers Tuesday. The country's Goods and Service Tax Council, the regulatory body in charge of recommendations to the implementation of the Goods and Services Tax (GST) confirmed it has agreed to…
Law
Lawmakers in India Consider Imposing 28% Tax On Online Gambling
infotechlead.com

Shares of Indian casino and online gaming cos plummet

The imposition of a 28 percent tax on the money collected from customers by Indian gaming companies, including online gaming firms and casino operators, has had a significant impact on the industry. This move, announced by India's Goods and Services Tax (GST) Council, has resulted in a substantial decline in the value of shares for companies such…
Industry
Shares of Indian casino and online gaming cos plummet
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Business Today

Delta Corp investors lose Rs 1,321 crore as gaming and casino stock slips another 10%

The crash in Delta Corp Ltd shares in early deals today led to a decline in the market capitalisation of the gaming and casino firm by Rs 1321.45 crore. Market cap of Delta Corp fell to Rs 5287.14 crore today against Rs 6608.59 crore in the last session. The correction in the stock came after the GST Council decided to levy a 28 per cent GST on…
Finance
Delta Corp investors lose Rs 1,321 crore as gaming and casino stock slips another 10%
CNA

India's gaming, casino firms slide on tax blow

BENGALURU:Shares of Indian casino operator Delta Corp lost over a fifth of their value on Wednesday, while online gaming firms also dropped after the country's tax authorities imposed a 28 per cent tax on the money such companies collect from customers. These companies will now have to pay a 28 per cent tax on the entire amount collected from…
Finance
India's gaming, casino firms slide on tax blow
Dazeinfo

Indian Online Gaming Market in Doldrums: 28% GST Could Be Disasterous

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…
Industry
Indian Online Gaming Market in Doldrums: 28% GST Could Be Disasterous
Financial Express

ED attaches Rs 213 cr for money laundering through online betting, gambling

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

New GST implications on online gaming industry- India

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…
Industry
Republic World

'Online betting & gambling subject to 28% GST, legalisation not on cards': Centre tells RS

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…
Incidents
'Online betting & gambling subject to 28% GST, legalisation not on cards': Centre tells RS
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
GST Council decriminalises some types of offences, defers call on online gaming, horse racing and casinos
Brand Equity

enforcement directorate: Enforcement Directorate attaches Rs 213 crore for money laundering through online betting, gambling sites

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…
Incidents
enforcement directorate: Enforcement Directorate attaches Rs 213 crore for money laundering through online betting, gambling sites
tradebrains.in

ED attaches Rs 213 cr for money laundering through online betting, gambling sites

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…
Incidents
ED attaches Rs 213 cr for money laundering through online betting, gambling sites
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
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
28% GST on gambling-like online games
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
GST: GoM on online gaming, casinos submits report to Sitharaman
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
GST fail to reach a consensus on online gambling and gaming in India
New Indian Express

Online gaming industry okay with 28 per cent GST if levied only on fee- The New Indian Express

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…
Industry
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
GST Council Meeting Delayed As States’ Ministers Undecided On Tax Formula On Casinos, Horse Racing And Online Games
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
Centre Expected to Tax Online Gaming and Gambling Separately, Avoid Debate on Regulation
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
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
Bengal, UP back 28% GST on full value for online gaming
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
GoM on casinos, online gaming taxation may finalise report in 7-10 days
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
GoM meeting on valuation of GST on casinos, online gaming and horse racing
The Hindu BusinessLine

IT Dept urges winners of online gaming platforms to file, pay taxes ‘voluntarily‘

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,…
Finance
IT Dept urges winners of online gaming platforms to file, pay taxes ‘voluntarily‘
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
GoM on online gaming, casinos: No consensus yet on 28% GST on gross revenue
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
online gaming: GoM on casinos, online gaming, horse racing to submit report to FM Nirmala in a day or two: Sources
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
GoM on casinos, online gaming to submit report to FM in 1-2 days: Report
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
GST on online gaming, casinos? Here's what is on proposal
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
ABP News Live

Gst Tax Online Gaming Conundrum

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…
Finance
Gst Tax Online Gaming Conundrum
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
GST GoM on casinos to meet on July 23-24
Brand Equity

View: Policy needs to demarcate the difference between gambling and gaming

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…
Finance
View: Policy needs to demarcate the difference between gambling and gaming
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
28 Pc GST On Online Gaming, Casinos And Horse Racing
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
GST: GoM Meet On Casino, Online Gaming Remains Inconclusive; To Meet Again Next Month
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
GST: GoM to finalise report on casinos, online gaming by Aug 10
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
GST on online gaming, casinos: Group of Ministers to finalise report by 10 Aug
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
GST: Group of Ministers to finalise report on casinos, online gaming by Aug 10
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
Will GST on casino, online gaming, horse racing be hiked from 18% to 28%? Crucial GOM meet to decide today
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
GST GoM on casinos and online gaming to meet on Tuesday: UP minister
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
gst on online gaming: GoM on GST levy on casinos, online gaming to meet on July 12
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
GoM on GST levy on casinos, online gaming to meet on July 12
BW Businessworld

GoM On GST For Casinos Online Gaming Horse Racing To Meet On July 12

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…
Industry
GoM On GST For Casinos Online Gaming Horse Racing To Meet On July 12
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
Decision on GST levy on casinos and online gaming on July 12
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
GST Council may not increase the tax rate on online gaming, casinos
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
Group of Ministers may not tweak 28% GST on online gaming, casinos
Financial Express

Online gaming and gambling stand at loggerheads on GST

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…
Industry
Online gaming and gambling stand at loggerheads on GST
5 Dariya News

Online gaming is gambling like casinos

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…
Industry
Online gaming is gambling like casinos
The Hindu

Taxing the online gaming industry on par with gambling will stifle growth: Winzo

The GST Council on Wednesday deferred its decision on levying a 28% tax on casinos, online gaming, horse racing, and lottery pending more consultations with stakeholders. Sign up to our Technology newsletter, Today's Cache, for insights on emerging themes at the intersection of technology, business and policy. Click here to subscribe for free.) "We…
Law
Taxing the online gaming industry on par with gambling will stifle growth: Winzo
Brand Equity

Online Gaming: Taxing online gaming industry on par with gambling will stifle growth: Winzo

Indian gaming ecosystem is expected to have 10 unicorns and 5 decacorns in the next five years but high tax on entire online gaming industry at par with gambling will stifle growth, online gaming company Winzo said on Friday. The GST Council on Wednesday deferred its decision on levying a 28% tax on casinos, online gaming, horse racing and lottery…
Law
Online Gaming: Taxing online gaming industry on par with gambling will stifle growth: Winzo
BW Businessworld

Taxing Online Gaming Industry On Par With Gambling Will Stifle Growth Winzo

Winzo believes 28 per cent tax on gaming will have serious implications on development of the sector 1626067912_Pw4IEb_gaming.png The GST Council on Wednesday deferred its decision on levying a 28 per cent tax on casinos, online gaming, horse racing, and lottery pending more consultations with stakeholders. "We at WinZO believe that India will…
Law
Taxing Online Gaming Industry On Par With Gambling Will Stifle Growth Winzo
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
GST council defers 28% tax on online gaming, casinos and horse racing
SME Futures

Online gaming gambling no decision on extending GST compensation date

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…
Industry
Online gaming gambling no decision on extending GST compensation date
Punjab News Express

Online gaming gambling, no decision on extending GST compensation date: Sitharaman (Lead)

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…
Industry
Online gaming gambling, no decision on extending GST compensation date: Sitharaman (Lead)
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
GST Council defers 28% tax on casinos, online gaming, horse racing and lottery
Daijiworld

Online gaming is gambling like casinos: Nirmala Sitharaman

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…
Industry
BW Businessworld

GST Council Defers 10 Hike On Online Gaming

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…
Industry
GST Council Defers 10 Hike On Online Gaming
Ommcom News

Online Gaming Is Gambling Like Casinos: Nirmala Sitharaman

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…
Industry
Online Gaming Is Gambling Like Casinos: Nirmala Sitharaman
Financial Express

GST Council Meet HIGHLIGHTS: GoMs to re-deliberate tax rate on online gaming, casinos by July 15, says FM

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,…
Finance
GST Council Meet HIGHLIGHTS: GoMs to re-deliberate tax rate on online gaming, casinos by July 15, says FM
Financial Express

GST Council defers decision to hike tax rate on online gaming to 28%

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…
Finance
GST Council defers decision to hike tax rate on online gaming to 28%
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
Casinos, online gaming, horse racing likely to pay 28 per cent GST: Report
Mint

Highest tax slab on online gaming may stunt growth

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…
Finance
Highest tax slab on online gaming may stunt growth
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
28 pc GST likely on Casinos, Online gaming
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
28% GST likely on casinos, online gaming and horse racing: Report
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
28% GST likely on casinos, online gaming, horse races on gross revenue: Report
CNBC TV 18

Gst Council To Discuss Gom Report On Online Gaming, Race Courses And Casinos: Sources

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…
Industry
Gst Council To Discuss Gom Report On Online Gaming, Race Courses And Casinos: Sources
Business Insider India

Rakesh Jhunjhunwala’s gamble on this stock is proving to be a bust after it slips 20% in a month

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…
Covid
Rakesh Jhunjhunwala’s gamble on this stock is proving to be a bust after it slips 20% in a month
SME Futures

The GST conundrum: A super hard level for the Indian online gaming sector

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…
Industry
The GST conundrum: A super hard level for the Indian online gaming sector
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
Big News For Casino Lovers Online Gamblers horse racing in Meghalaya Details Here
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
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
State finance ministers recommend 28% GST on online gaming, racecourses, and casinos
Mint

Ministerial Group To Recommend 28% Gst On Casinos, Racecourses, Online Gaming

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, is set to recommend 28% GST rate on these. Sangma said in a social media post on Wednesday that the group of ministers has come to a consensus. The report of the GoM's submissions will be…
Industry
Ministerial Group To Recommend 28% Gst On Casinos, Racecourses, Online Gaming
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
Top headlines: Elbers appointed as IndiGo CEO; GST hike likely on casinos
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
Meghalaya: GoM reaches consensus on casinos, online gaming and racecourses
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
News18

IAMAI Urges GST Council To Keep 18% Tax On Online Gaming

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…
Finance
IAMAI Urges GST Council To Keep 18% Tax On Online Gaming
Brand Equity

States, take a chance on online gaming

A group of ministers set up to advise the Goods and Services Tax (GST) Council on taxing casinos, race courses and online gaming is looking at whether to increase the tax rate they are subject to and the valuation of the business. The current 18% tax rate is based on the premise that online games involve skill and do not constitute gambling. And it…
Industry
States, take a chance on online gaming
The Free Press Journal

Online gaming industry pitches for retaining 18% GST

At present, services of casinos, horse racing, and online gaming attract 18 percent GST./Representative image | The online skill-based gaming industry has made a case for retaining the service under the 18 percent GST slab instead of putting it into the highest 28 percent tax rate category, saying the move will badly hit the $2.2-billion…
Industry
Online gaming industry pitches for retaining 18% GST
CNBC TV 18

Online Gaming Industry Urges Government To Retain 18% Gst

The online skill-based gaming industry has made a case for retaining the service under the 18 percent GST slab instead of the 28 percent tax rate category, saying the move will badly hit the $2.2-billion sector. The increase in taxation would not only have a catastrophic impact on the industry, but also encourage offshore operators who would…
Industry
Online Gaming Industry Urges Government To Retain 18% Gst
Devdiscourse

Online gaming industry pitches for retaining 18 pc GST

The online skill-based gaming industry has made a case for retaining the service under the 18 percent GST slab instead of putting it into the highest 28 percent tax rate category, saying the move will badly hit the USD 2.2-billion sector. The increase in taxation would not only have a catastrophic impact on the industry but also encourage offshore…
Industry
Online gaming industry pitches for retaining 18 pc GST
Mint

Gom On Casinos, Online Gaming To Finalise Tax Proposals This Month

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…
Finance
Gom On Casinos, Online Gaming To Finalise Tax Proposals This Month