Key Points
The government anticipates earning an additional Rs 20,000 crore per annum after the GST Council implemented a 28% tax on full bet value for online gaming, horse racing, and casinos..
Last year, the government collected only Rs 1,700 crore GST, which could have been Rs 15,000-20,000 crore if taxed on the full value..
The exchequer would get an estimated additional revenue of Rs 20,000 crore annually following the decision of the GST Council to levy 28 per cent tax on full bet value on online gaming, said Revenue Secretary Sanjay Malhotra on Thursday..
The GST Council has unanimously decided to impose 28 per cent tax on online gaming, casino and horse racing etc, he said adding that the government will pursue all cases in the Supreme Court for recovery of erstwhile tax demands...
"One of the members, in fact, in the GST Council pointed out that the way the online gaming companies are paying the taxes on online games at 18 per cent of GGR, which works out to only about 2-3 per cent, even lower than the tax rate of 5 per cent levied on many of the food products consumed by the very common people," Malhotra told PTI in an interview...
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