28% GST to be levied on full value of online gaming, horse racing, casinos
In a setback to online gaming companies, the GST Council on July 12 decided that there will be a 28 per cent GST levy on full value of gaming, horse racing, and casinos.
28% GST to be levied on full value of online gaming, horse racing, casinos
In a setback to online gaming companies, the GST Council on Tuesday, July 11, decided that there will be a 28 per cent GST (Goods and Services Tax ) levy on full value of gaming, horse racing, and casinos.
Among other issues, the Council approved exemption of GST on import of cancer drug Dinutuximab and on Food for Special Medical Purposes (FSMP) that are used in the treatment of rare diseases.
The GST Council, which held its 50th meeting under the chairmanship of Union Finance Minister Nirmala Sitharaman, decided to remove the distinction of game of skill and chance in case of online gaming. The date for 28 per cent GST levy will become effective after the amendment in GST law, West Bengal Finance Minister Chandrima Bhattacharya told reporters after the meeting.
Maharashtra's Forest, Culture and Fisheries minister Sudhir Mungantiwar told reporters that the GST council also approved setting up of appellate tribunals.
