The 50th meeting of the Goods & Services Tax Council has recently recommended a uniform tax rate of 28% on the full-face value for online gaming, casinos, and horse racing.
The Council has decided to eliminate the distinction between “games of skill” & “games of chance.”
The Union Ministry of Finance issued a press release stating, “GST Council recommends Casino, Horse Racing and Online gaming to be taxed at the uniform rate of 28% on full face value.”
Industry experts have criticized this measure, considering it a setback that could harm India’s skilled online gaming industry.
Chief Strategy Advisor to the Founders of Gameskraft, Amrit Kiran Singh said, “It negates all the good work that the Modi government has done to support the industry by appointing MEITY as the nodal ministry for this industry, notifying rules that now govern the industry, allowing for the formation of Self-Regulating Bodies (SRBs) to regulate the industry, addressing the ambiguity in TDS deduction rules.”
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