#Sitharaman

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?
The Tribune India

India introduces 28% tax on online gambling sector

Since last July, the government of India has announced its intention to levy a 28 percent tax on funds collected by online gaming companies from their customers. The decision could be considered to become a significant blow to the thriving online gaming sector in India. This decision has also sent shockwaves throughout the gaming community. The 28…
Industry
India introduces 28% tax on online gambling sector
Super Slots
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
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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
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%
Aljazeera

India hits online gaming with 28% tax

Concerns have mounted over possible addiction and financial losses for players even as sector draws investors. India's government says it will impose a 28 percent tax on funds that online gaming companies collect from their customers in a setback to the $1.5bn industry. Gaming apps are often endorsed by sporting heroes in India, where cricket is a…
Industry
India hits online gaming with 28% tax
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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
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
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
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
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Brand Equity

online gaming ban: Ban promotion of online gambling, Karnataka BJP MLA implores Centre

Former Karnataka law & education minister S Suresh Kumar has written to Union Ministers Amit Shah and Nirmala Sitharaman urging them to ban the promotion of online games involving monetary bets through advertisements, text messages, mobile calls and other forms of marketing. In separate letters, he said he was aware of the court rulings allowing…
Law
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
Brand Equity

TCS faces hiring bias lawsuit in US; BJP MLA asks Centre to ban online gambling ads

In 2018, a California district court ruled in favour of TCS in a lawsuit filed by three former employees who accused the IT services provider of discrimination in hiring. Now, the company faces a similar class-action lawsuit, filed by a disgruntled former employee who alleges that it has repeatedly favoured Indian and South Asian job-seekers in the…
Law
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ABP News Live

Online Gaming Needs Regulatory Body In India To Classify Games Based On Skill Or Chance Strict Rules Govt Panel

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…
Law
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
ABP News Live

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

In order to regulate online gaming, the Tamil Nadu government now seeks input from the public on proposed legislation to control games such as online rummy. The development follows reports of at least 20 deaths by suicide that surfaced recently in the state owing to financial debts stemming from such games, including that of a woman who had to deal…
Rummy Games
Online Gaming Regulation Tamil Nadu Invite Stakeholder General Public Input Legislation Rummy Poker Gambling Nirmala Sitharaman Gom Gst
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
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
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
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
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
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
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
India Plans to Introduce 28% Tax on Online Gambling
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
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
The Assam Tribune

The role that legislation has to play in curbing gambling addiction

Regulation around gambling in India is complex. Legal loopholes have been created by the ambiguity of the definitions of games of skill and games of chance and the fact that the relevant laws were created long before many current forms of gaming were created. This includes online betting and wagering on fantasy sports. One of the biggest downsides…
Law
The role that legislation has to play in curbing gambling addiction
The Coin Republic

Taxes on Crypto Gambling Wins

Some of the best Ethereum gambling sites will give you a great, easy way to make some money and have a fun time doing it - but they won't help you figure out how much money you might owe to the taxman from those winnings. That's right. You might think that winning money on crypto gambling sites is all fun and games - until the tax bill comes due.…
Finance
Taxes on Crypto Gambling Wins