GST Rate on Online Gaming has always been 28%; Clarifies Revenue Secretary:
In 50th GST Council Meeting held on 11th July 2023 under the chairmanship of Finance Minister, GST Council decides to levy 28% GST on full value of gaming, horse racing and casinos.
GST Rate of 28% on Online Gaming
Reetu
Jul 13, 2023GST Rate on Online Gaming has always been 28%; Clarifies Revenue Secretary
In the 50th GST Council Meeting held on 11th July 2023 under the chairmanship of the Finance Minister, GST Council decided to give clarification on the levy of 28% GST on the Online gaming industry.
But Now Revenue Secretary, Sanjay Malhotra came in front to clarify some facts behind it. He said GST rate of 28% on online gaming was always there.
To Clarify his statement more he stated "28% GST on full face value has already been in effect wrt online gaming, the question of retrospective taxability doesn’t arise." The GST Council has now merely clarified the stance of 28% GST on casinos and online gaming, he further said.
He also says Govt intends to challenge the Karnataka HC order in favor of Gameskraft.
About Author
Reetu
Content Manager
Reetu is a Content Writer with 4+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM (Honrs.) Graduate.
Studycafe
Delhi, Delhi, India
8072My Recent Articles
- Income Tax Guide for Indian Defence Personnel for Tax Filing, Taxable Allowances and Other Benefits
- Income Tax Return Breaking: ITR Forms released for AY 25-26
- Ex-DRT Officials Sentenced to 5 Years Rigorous Imprisonment by Madras High Court along with Rs.27 Lakh Fine
- GSTN issued Advisory on Case Sensitivity in IRN Generation
- RBI to issue Notes of Rs.10 and Rs.500 bearing Signature of Guv Malhotra
Up Next
Loading suggestions…
Recent Posts
All Posts
Recent Posts
All Posts