Tag: GST Council
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GST Council to review 28% tax on online gaming after 6 months
The GST Council has clarified that the proposed 28% tax rate on online gaming will be applicable to the actual cash or equivalent deposits made by players on an online gaming platform, not on the winning amounts being redeployed. This decision, set to be implemented on October 1, has been met with both relief and…
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Online Gaming to Be Taxed at 28%, GST Council Decides
In a significant move, the GST Council, during its 50th meeting, has agreed to impose a 28% tax on online gaming, casinos, and horse racing. This decision, announced by West Bengal Finance Minister Chandrima Bhattacharya, is set to reshape the financial landscape of the Indian gaming industry. The new tax structure is expected to be…