Key Points
The amendments to GST laws were recently passed in the Lok Sabha, and the law for the GST rate on online gaming will have to be passed by the assembly of states..
The Central Board of Indirect Taxes and Customs (CBIC) Chairman, Sanjay Agarwal, has announced that India is prepared to implement a 28 per cent Goods and Services Tax (GST) rate on online gaming starting from October 1...
The central government asserts that these amendments will provide much-needed clarity regarding the taxation of supplies in casinos, horse racing, and online gaming...
Additionally, the GST Council has advised that the valuation of online gaming and actionable claims in casinos should be based on the amount paid or payable to the supplier by or on behalf of the player...
Notably, the GST Council had previously recommended a 28 per cent GST rate on the full face value for Casinos, Horse Racing, and Online Gaming in its 50th meeting held on July 11...
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