Finance Minister likely to introduce Amendments in GST Law during Monsoon Parliament Session:

Finance Minister likely to introduce Amendments in GST Law during Monsoon Parliament Session Finance Minister Nirmala Sitharaman is expected to present revisions to the Central GST law on Friday and seek adoption during the monsoon session of Parliament, as the government races against the clock to secure the authority to tax online gaming, casinos, and horse racing. The Union Cabinet approved revisions to GST law on Wednesday, adding them to the timetable for levying 28% GST on online gaming, casinos, and horse racing. The GST Council approved the revisions to the GST legislation last week, with Sitharaman suggesting that the Centre and the states intend to impose tax beginning in October. Along with the Centre's revision, the states will make adjustments to their legislation. The monsoon session is set to expire on Friday, with the no-trust vote expected for Thursday. The FM made it quite plain that there will be no rethinking of the measure, despite strong lobbying by gaming corporations, who have received support from the Delhi government. States like Goa and Sikkim had also requested a review, but the GST Council opted to record their disapproval and proceed with the planned charge, breaking with convention. The modified GST requirements will expressly describe online gaming, online money gaming, virtual digital assets used to pay for online games, and online gaming suppliers. The Council also suggested that the IGST Act include a provision imposing GST on online money gaming offered by offshore firms. Such organisations will be needed to register for GST in India. The rules would also allow for the banning of access to offshore gaming platforms if registration and tax payment requirements are not met.