Goa gov’t approves amendments to local Goods and Services Tax Act
The Goan government has made changes to the local Goods and Services Tax Act to make it more clear how various forms of gambling are taxed.
The Goa Goods and Services Tax (Amendment) Act of 2024 will take the place of the current Goa Goods and Services Tax (Amendment) Ordinance of 2023, according to a cabinet decision. October of last year saw the implementation of the current laws, which are revisions to the original 2017 GST Act.
The new law aims to provide clarification on the taxes associated with gambling, which includes betting, casino gaming, and horse racing.
In order to ensure that the taxation of these activities does not conflict with any state laws that restrict, prohibit, or regulate them, the proposal would also include a transitory clause. Some of the terms that will be defined are “specified actionable claim,” “online gaming,” “money gaming,” and “virtual digital asset.”
In addition, the proposal would add a definitional clarification to “supplier” regarding the furnishing of a “specified actionable claim.” Anyone sending money to recipients in India for online gaming from outside the country must also register. It is expected that the bill will be presented in the next budget session of the assembly.
Original story by: Asia Gaming Brief
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