India proposes GST tax hike for online gambling firms
India is proposing to hike tax for online gambling firms to 28 percent of the face value of a bet, bringing the nascent industry in line with casinos and horse racing.
According to Business Times, which cites unnamed sources, the proposed new goods and services tax (GST) is some 10 percent above the current levels.
The federal GST Council, which is headed by Finance Minister Nirmala Sitharaman, has been deliberating the country’s tax rates for the gambling industry for some time. It had been hoped that the council may lighten the tax load.