Bihar Government Introduces Bill to Replace Ordinance imposing 28 % GST on Online Gaming:

Bihar Government Introduces Bill to Replace Ordinance imposing 28 % GST on Online Gaming The Bihar government introduced an amendment bill in the assembly on Monday to modify an ordinance authorising the introduction of a 28 % GST on online gambling in the state. Following the Centre's notification in September, the additional tax on online gaming, racecourses, and casinos has been in effect in the state since October 1. On Monday, the first day of the state legislature's winter session, state Finance Minister Vijay Kumar Choudhary introduced the Bihar Goods and Services Tax (Second Amendment) Bill-2023. In September, the Union Ministry of Finance issued notifications for the implementation of a uniform 28 % GST on online money games, casinos, horse racing, betting, gambling, and lottery. The state's new tax regime has been in effect since October 1. The amended bill will now take the place of the issued ordinance. He said that the higher tax rate would generate more income for the state. The Goods and Services Tax (GST) Council in an August meeting, had decided to maintain its previous decision to collect a 28 % tax on the total face value of bets placed on online gambling, casinos, and horse racing. The council has stated that a 28 % GST would be implemented beginning October 1. Previously, the online gaming business had to pay an 18 % tax on Gross Gaming Revenue (GGR). Gross Gaming Revenue is the difference between the amount wagered by players and the amount won. According to the Minister, a 28 % tax will be levied on the amount put by a player in a game. If a player invests Rs. 2,000 in a game, he or she must pay a GST of 28 %, or Rs. 560.