Indian gov’t remains resolute on matters concerning GST within gaming industry
The Goods and Services Tax (GST) in the gaming industry is upheld by the Indian government.
It’s a major setback that the Finance Ministry, a key source in the Indian government, has reportedly stated that there are no plans to exclude the gaming industry from GST.
Allegations of a disagreement between senior government officials and the legal team about the prosecution of retroactive GST notifications against online gaming firms were refuted by Additional Solicitor General Venkatraman during a recent Supreme Court session.
According to current regulations, gaming companies must pay a 28% GST on each bet. Industry participants, however, suggest a lesser percentage of the platform price or 18% of overall gaming revenue (GGR).
The tax office sees this adjustment as a clarification even though a new tax system was established that imposed a 28% tax on deposits starting on October 1, 2023. According to them, the 28% tax on the whole wager amount has been in place since July 2017.
Cases concerning GST notifications issued to online casinos and gambling businesses are now being heard by many high courts, including the Bombay High Court, the Bombay High Court’s Goa bench, the Karnataka High Court, the Calcutta High Court, and the Sikkim High Court. The Supreme Court is also still deliberating on two cases.
Original story by: Asia Gaming Brief
Other Interesting Articles
BI orders deportation of 2,000 foreign nationals involved in job scamsJan 19, 2024