New Tax Likely To Be Implemented From Oct 1, Says Finance Minister Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Wednesday said 28 per cent GST on full face value for online gaming, casinos and horse racing is likely to be implemented from October 1. The Goods and Services Tax (GST) Council, in its meeting on Wednesday, has finalised the modalities for the determination of supply value in online gaming and casinos for levying 28 per cent tax, said Sitharaman. Concerning valuations, the Council recommended that the valuation of supply on online gaming and actionable claims in casinos should be based on the amount paid, payable to, or deposited with the supplier by or on behalf of the player. This excludes the amount used in the games, bets made from previous game winnings, and not the total value of each bet placed.