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GoM finalises 28% GST on online gaming's entire face value or bet amount

GoM finalises 28% GST on online gaming's entire face value or bet amount

The GST Council’s Group of Ministers will submit the report in the first week of August.

The GoM will submit the report to GST Council in the first week of August. (Representative image) The GoM will submit the report to GST Council in the first week of August. (Representative image)

The Goods and Services Tax (GST) Council's Group of Ministers (GoM), on Monday, finalised a 28 per cent GST on the entire face value or bet amount on gross gaming revenue from casinos and online gaming, according to the sources.

Moreover, the GoM, which is headed by the Meghalaya Chief Minister Conrad Sangma have also decided to not impose any GST on the net amount after removing prize money.
 
The GoM will submit the report to GST Council in the first week of August.

Published on: Jul 25, 2022, 4:47 PM IST
Posted by: Vivek Dubey, Jul 25, 2022, 4:43 PM IST