28% GST charge set for online gaming, horse racing, and casinos

[{"selector":"#anim-50289ecf-387b-43c4-823a-0bcf2d6f151d","keyframes":{"opacity":[0,1]},"delay":250,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-61585535-14ca-4abe-b38d-3bb129264901","keyframes":{"transform":["translate3d(-177.04918%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":250,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The 50th GST Council meeting has decided to levy a 28% GST on online gaming, horse racing, and casinos.

[{"selector":"#anim-3d429c9e-1383-4bbb-b44b-eec4fddbe487 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The Council has approved GST exemption on the import of cancer drug Dinutuximab, and Food for Special Medical Purposes (FSMP) used in the treatment of rare diseases.

[{"selector":"#anim-5e3abe9a-ee93-490e-bdd3-774eb23acd28","keyframes":{"opacity":[0,1]},"delay":250,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-38d706f9-d783-4db3-9491-4818c43e60a7","keyframes":{"transform":["translate3d(-177.04918%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":250,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] There was no consensus on taxing online games, with Goa calling for an 18% tax only on platform fees and exempting prize pool contributions.

[{"selector":"#anim-45dea304-cb79-4888-b6dd-c0920428a097","keyframes":{"opacity":[0,1]},"delay":250,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-64ac2987-9b3d-4207-81cc-33f7a32aaddd","keyframes":{"transform":["translate3d(-177.04918%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":250,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] In the case of online gaming, the Council has decided to remove the distinction between 'game of skill' and 'game of chance', with a 28% tax imposed on the full face value of bets. Via

Save time. Stay Informed with FYI: A short news app for working professionals.