Bill to levy 28% GST on online gaming, casinos introduced in Lok Sabha
The Hindu
Finance Min. Sitharaman introduces bills to amend CGST & IGST laws, allowing 28% tax on full face value of bets in online gaming, casinos & horse race clubs. Amendments provide clarity on taxation of supplies & impose GST liability on offshore entities. GST Council approved levy last week.
Finance Minister Nirmala Sitharaman on Friday introduced bills to amend the Central and Integrated GST laws to levy 28% tax on the full face value of bets in online gaming, casinos and horse race clubs.
The Central Goods and Services Tax (Amendment) Bill, 2023, and The Integrated Goods and Services Tax (Amendment) Bill, 2023, were introduced by Ms. Sitharaman in the Lok Sabha amid opposition protests over suspension of Congress leader Adhir Ranjan Chowdhury from the House.
Friday is the last day of the monsoon session of Parliament. Once the amendments to CGST and IGST laws are passed, states will get similar amendments in state GST law cleared by the respective assemblies.
The amendments pertain to insertion of a provision in the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming.
The amendment in IGST Act relates to inserting a provision to impose GST liability on online money gaming provided by offshore entities. Such entities would be required to get GST registration in India.
The amendments will also provide for blocking access to online gaming platforms located overseas in case of failure to comply with registration and tax payment provisions.
The amendments to the Central GST (CGST) and Integrated GST (IGST) laws were approved by the GST Council last week.
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