gst rates: GST on gaming and gambling: Don’t ‘game over’ before it has even begun

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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 ・ 27 November 2023

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 ・ 12 July 2023

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 ・ 12 July 2023

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 ・ 21 December 2022

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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 ・ 27 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

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

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

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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

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 ・ 04 September 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

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

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Animation Xpress

E-Gaming Federation appreciates the GoM in understanding online skill gaming differently from betting and gambling

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…

Law ・ 29 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

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 ・ 20 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

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 ・ 03 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

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 ・ 29 June 2022

News18

GST Council May Discuss Changes In Law To Set Up Tribunals; GoM Report On Online Gaming, Casinos

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…

Industry ・ 26 June 2022

East Mojo

From Blanket Bans to Blanket Regulations: Still No Differentiation on the Horizon

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…

Gaming Authorities ・ 10 June 2022

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 ・ 01 June 2022

New Indian Express

Online gaming will benefit from robust regulation- The New Indian Express

The ubiquity of technology has led to numerous new avenues of business-e-commerce, entertainment, education, communication, etc. This has called for the management of the respective sectors and the need for their regulation has been felt. One less noticed sector is the area of online gaming, which received a massive boost during the pandemic. As…

Law ・ 25 May 2022

Gambling News

India Plans to Introduce 28% Tax on Online Gambling

India is not the warmest place if you are a gambling company. The country is currently in the midst of discussing a legislative change that would increase the law applied to online gambling operators to 28% of the face value of each bet. This is done to bring online gambling in line casinos and horse racing, which are taxed at the same…

Finance ・ 19 May 2022