A meeting of the GST Council is scheduled to be held on October 7. The Council is likely to review the progress with regard to implementation of amendments in the SGST law by different states.
A meeting of the GST Council is scheduled to be held on October 7. The Council is likely to review the progress with regard to implementation of amendments in the SGST law by different states.
"The 52nd meeting of the GST Council will be held on 7th October, 2023, at Vigyan Bhawan, New Delhi," the GST Council said in a post on X.
The GST Council meeting will review the progress with regard to amendments in the SGST law by different states, said a report by news agency PTI citing an official.
Last month, the GST Council cleared amendments to Central GST and Integrated GST laws to give clarity on the levy of 28% tax on the full face value of bets in online gaming, casinos and horse race clubs.
According to the amendments, registration for offshore e-gaming companies operating in India is mandatory.
The law also allows blocking of access in case offshore platforms fail to comply with GST registration and taxation norms.
The states were required to make similar changes in their respective SGST laws. October 1 is the deadline for all states to implement the amended provisions.
After the GST Council clarified in July on 28% tax on the full face value of a bet, the GST authorities started sending notices to the online gaming companies and casino operators.
The CGST amendment defined 'online gaming' as a game on the internet or an electronic network.
After the amendment to GST law, horse racing, casinos, online money gaming are treated as actionable claim similar to lottery, betting, and gambling.
The amendments were aimed at combating money laundering, illegal income and black money.
As per NITI Aayog data, the online gaming industry rose by 28% in 2021 to reach $1.9 billion.
Casinos are also required to pay 28% GST on gross gaming revenue (GGR).