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State finance panel unanimous on raising GST for casino, online gaming to 28%: WB FM

State finance panel unanimous on raising GST for casino, online gaming to 28%: WB FM

At present, services of casino, horse racing and online gaming attract 18 per cent GST (Goods and Services Tax).

"There was a clear consensus that the highest rate of 28 per cent should be levied on all the three services — casino, race course and online gaming." "There was a clear consensus that the highest rate of 28 per cent should be levied on all the three services — casino, race course and online gaming."

The panel of state finance ministers is unanimous on hiking the GST rate on casino, race course and online gaming services to 28 per cent, West Bengal finance minister Chandrima Bhattacharya said on Monday.

However, a call on whe­ther the tax should be levied on gross or net valuation wo­uld be taken after further deliberations at the officer level. The Group of Ministers (GoM) will decide on the method of valuing the services. At present, services of casino, horse racing and online gaming attract 18 per cent GST (Goods and Services Tax).

The government had in May last year set up a panel of state ministers for better valuation of services of casinos, online gaming portals and race courses for levying GST. The GoM, headed by Meghalaya chief minister Conrad Sangma, met on Monday and discussed the applicable GST rate on these three services.

"There was a clear consensus that the highest rate of 28 per cent should be levied on all the three services — casino, race course and online gaming."
 
"The officer's committee will deliberate further and give report within 10 days on whether tax would be levied on gross or net value, after which the GoM will meet again and take a call," Bhattarcharya said.

She said the decision of the GoM would take into account businesses involved in these services, society and other stakeholders. The report of the GoM is likely to be taken up in the next meeting of the GST Council expected later this month.

Published on: May 03, 2022, 1:12 PM IST
Posted by: Mehak Agarwal, May 03, 2022, 1:07 PM IST