online gaming gst – The News Desk

Online money gaming firms, previously positioning themselves as offering skill-based games, face potential additional tax dues of around Rs 45,000 crore, according to an ET report. The Central Board of Indirect Taxes and Customs (CBIC) has evaluated unsettled GST liabilities for these firms since 2017.Officials in the ET report explained that these companies were taxed at 18% on gross gaming revenue due to their skill-based games, instead of the legally prescribed 28%, resulting in a Rs 45,000 crore tax shortfall. The differential tax treatment between skill and chance-based games has been done away with.The categorization of online gaming as either chance-based or skill-based has long fueled debate. Some online gaming companies have argued that their services pertained to skill-based act...

51st GST Council meeting on online gaming on Wednesday, August 2. (Photo: Twitter/ Finance Ministry)GST Council Meeting On Online Gaming: FM Nirmala Sitharaman says the decision to impose 28 per cent was taken after three long years of discussionsGST Council Meeting on Online Gaming: The 51st GST Council, chaired by Union Finance Minister Nirmala Sitharaman, on Wednesday decided to keep the 28 per cent tax on online gaming, casino and horse racing, and discussed the modalities to implement it. Addressing media after the Council meeting, Sitharaman said the 28 per cent GST on online gaming is expected to be implemented from October 1 and will be reviewed after 6 months of its implementation.In the press conference, the finance minister said the decision to impose the 28 per cent tax was t...

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Online money gaming firms face massive Rs 45,000 crore tax demand after 28% GST levy

GST Council Keeps 28% Tax on Online Gaming, To Be Effective From Oct 1, Review After 6 Months