Parliament approved amendments to the Central and Integrated GST laws to levy 28 per cent tax on the full face value of bets in online gaming, casinos and horse race clubs.
Key-highlights:
Currently, online gaming industry are paying GST at the rate of 18 per cent on platform fees/commission. Such commission varies from 5 to 20 per cent of the full face value of bets. |
Important Terms:
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India’s online gaming industry:
Online gaming is a State Subject under Schedule 7. |
Impact of the amendments:
Key drivers of Gaming Industry in India:
Positives |
Negatives |
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