GST Council to meet on 2nd August: Know the meeting Agenda:

GST Council to meet on 2nd August: Know the meeting Agenda The 51st GST Council meeting is to be held on 2nd August 2023.  The council is likely to approve a clear definition of actionable claims in the meeting. This is being done to include online gaming in the ambit of GST. The Council is likely to clarify the definition of online gaming to include "online gaming means the offering of a game on the internet or an electronic network and includes online money gaming." The new definition will include games based on both skill and chance. Online money gaming is likely to mean games where players pay or deposit money or money's worth, including virtual digital assets, in the expectation of winning money. The Council also proposes to add a New provision for inserting a definition of ''virtual digital asset'' which shall have the same meaning as considered in the Income Tax Act. The GST Council is also likely to include a new provision to include online money gaming supplied by a person located outside the taxable territory/ overseas online gaming apps & platforms to be taxed under the ambit of IGST. The Council to include ''specified actionable claim''; betting, casinos, gambling, horse racing, lottery, and online money gaming. The Council is likely to approve blocking all the online gaming apps/platforms not complying with tax rules. The Council is likely to deliberate on levying GST on the "total amount paid to or deposited with the supplier by way of money or money's worth, including virtual digital assets, by or on behalf of the player'' for online gaming For Casinos. The Council to also deliberate to levy GST on the ''total amount paid by or on behalf of the player for purchase of the tokens, chips, coins or tickets''.