The 50th meeting of the GST Council concluded on Tuesday with the goods and services tax rate trimmed down to 5% in four items. Also, the council exempted GST on several imported pharma products. However, one of the biggest highlights was the 28% tax rate imposed on the full value of online gaming which is likely a setback for Indian players. The Revenue Secretary also clarified concerns related to ED interference in GSTN.
Read MoreFinance Minister Nirmala Sitharaman on Tuesday said that the GST Council has decided to impose 28% tax on the turnover of online gaming, horse racing and casinos on full face value.
Read MoreDelta Corp is a gaming and hospitality corporation that owns and operates casinos and hotels under several brands.
Read More‘It was good fun being part of the fantasy gaming industry - which stands murdered now. $10 Bn down the drain in this monsoon’, said Ashneer Grover
Read MoreAshneer Grover had recently launched his own fantasy gaming named Crickpe
GST Council has decided that online gaming, casinos, and horse racing will be taxed at 28%
Business News/ Videos / 50th GST Council Meeting: What Might Become Cheaper/Costlier | Watch
Read MoreNew Delhi: Federal indirect tax body the Goods and Services Tax (GST) Council on Tuesday exempted integrated GST (IGST) levied on select drugs when imported for personal use, redefined sports utility vehicles to prevent car makers side stepping the highest tax bracket and decided on levying 28% uniform GST on online gaming, horse racing and casinos on the full-face value of bets.
Read MoreAhead of the 50th GST Council meeting, the EPWA has warned that a proposed 28% GST on online gaming could discourage players and harm the industry.
Read MoreIndia was internally reorganized when the system of linguistic states was created in the first two decades after Independence. B.R. Ambedkar gave a succinct summary of the underlying principles: every state would have one dominant language, but every linguistic group need not be consolidated into a single state, which is why there are multiple Hindi-speaking states or why we have two Telugu states today.
Read MoreGST Council clears 28 per cent tax on online gaming on full face value amount: West Bengal finance minister
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