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Lok Sabha Passes GST Bill To Tax Online Gaming, Casinos, Race Clubs At 28%Lok Sabha today approved amendments to the Central and Integrated GST laws to levy 28 per cent tax on the full face value of bets in online gaming, casinos and horse race clubs.
Finance Minister Nirmala Sitharaman introduced bills in the House on Friday, the last day of monsoon session of Parliament, amid opposition protests over suspension of Congress leader Adhir Ranjan Chowdhury.
The Central Goods and Services Tax (Amendment) Bill, 2023, and The Integrated Goods and Services Tax (Amendment) Bill, 2023, were passed by the Lok Sabha by a voice vote, without a debate.
States will now get the amendments passed in the state GST laws in their respective assemblies.
The amendments pertain to insertion of a provision in the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming.
The amendment in IGST Act relates to inserting a provision to impose GST liability on online money gaming provided by offshore entities. Such entities would be required to get GST registration in India.
The amendments will also provide for blocking access to online gaming platforms located overseas in case of failure to comply with registration and tax payment provisions.
The amendments to the Central GST (CGST) and Integrated GST (IGST) laws were approved by the GST Council last week.
The council had approved levy of 28 per cent GST on full face value of entry level bets in online gaming, casinos and horse racing.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Finance Minister Nirmala Sitharaman introduced bills in the House on Friday, the last day of monsoon session of Parliament, amid opposition protests over suspension of Congress leader Adhir Ranjan Chowdhury.
The Central Goods and Services Tax (Amendment) Bill, 2023, and The Integrated Goods and Services Tax (Amendment) Bill, 2023, were passed by the Lok Sabha by a voice vote, without a debate.
States will now get the amendments passed in the state GST laws in their respective assemblies.
The amendments pertain to insertion of a provision in the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming.
The amendment in IGST Act relates to inserting a provision to impose GST liability on online money gaming provided by offshore entities. Such entities would be required to get GST registration in India.
The amendments will also provide for blocking access to online gaming platforms located overseas in case of failure to comply with registration and tax payment provisions.
The amendments to the Central GST (CGST) and Integrated GST (IGST) laws were approved by the GST Council last week.
The council had approved levy of 28 per cent GST on full face value of entry level bets in online gaming, casinos and horse racing.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)