FinMin notifies Oct 1 date for implementing amended GST law provisions for e-gaming
PTI, Sep 30, 2023, 12:42 PM IST
Representative image (Source: Shutterstock)
New Delhi: The Finance Ministry has notified October 1 as the date for implementation of the amended GST law provisions for taxing e-gaming, casinos and horse racing.
According to the changes to the Central GST Act, these supplies will henceforth be treated as ”actionable claims” similar to lottery, betting and gambling and subject to 28 per cent Goods and Services Tax (GST) on full face value of bets.
The amendments to Integrated GST (IGST) Act makes it mandatory for offshore online gaming platforms to take registration in India and pay taxes in accordance with domestic law.
In its meetings in July and August, the GST Council, comprising finance ministers of Centre and states, had approved amendments to the law to include online gaming, casinos and horse racing as taxable actionable claims, and clarified that such supplies would attract 28 per cent tax on full bet value.
Parliament last month passed amendments to the Central GST and Integrated GST laws to give effect to the Council’s decision.
The Finance Ministry has now notified that October 1 will be the appointed date for implementation of these provisions.
The GST Council in its meeting in August had decided that the amended provision to classify these supplies as actionable claims and clarifying the taxation provisions would come into effect from October 1.
A review of the implementation was proposed to be carried out after six months, which is April 2024.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
‘Shehzada’ dig: 3 generations of Nehru-Gandhi family sacrificed themselves for country, says Sharad Pawar
Delhi cops question Youth Cong leader in MP’s Chhatarpur over fake video of Shah
Poor people have more children, why only Muslims are being targeted: Kharge asks PM
HC rejects bail prayer of incarcerated former WB minister Partha Chatterjee in money laundering case
SC questions ED on timing of Kejriwal’s arrest ahead of LS polls, seeks its reply
MUST WATCH
Latest Additions
‘Shehzada’ dig: 3 generations of Nehru-Gandhi family sacrificed themselves for country, says Sharad Pawar
Rinku Singh a casualty of IPL’s ‘Impact Player’ rule: Report quotes BCCI source on T20 World Cup
Delhi cops question Youth Cong leader in MP’s Chhatarpur over fake video of Shah
Kumaraswamy and Shivakumar spar over sex scandal involving Hassan MP
Poor people have more children, why only Muslims are being targeted: Kharge asks PM