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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…