India GST Council Recommends 28% GST on Various Forms of Gaming india-briefing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from india-briefing.com Daily Mail and Mail on Sunday newspapers.
The 50th meeting of the Goods and Services Tax (GST) Council was held here today, under the chairpersonship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. To mark the milestone of 50th meeting of the GST Council,
India s group of ministers has agreed on a 28% GST on online gaming, horse racing and casinos, but could not reach a consensus on the taxability of online games. Some states suggested a 18% tax on platform fees while others suggested a 28% tax on GGR or commission on all three supplies. The GST Council is expected to take a final view on the taxation rate and taxability of the three activities on July 11.
In its upcoming meeting on July 11, the GST Council is expected to make a final decision on whether the tax should be levied on gross gaming revenue (GGR), or fees charged by the platform; or on the full face value of bets put in by players of online gaming, horse racing and casinos.
Universal e-invoice an ideal situation but difficult to set a timeframe, says CBIC Chief Vivek Johri thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.