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GST Council refrains from increasing tax rate on online gaming for now. What happens next?

The GST Council’s decision to defer increasing the GST on online gaming to 28 percent is likely to bring relief to the online gaming industry.

Indians will not have to pay 28 percent GST (Goods & Services Tax) on online gaming after the GST Council postponed its decision to increase the slab from 18 percent to 28 percent, Business Standard reported. The recommendation to tax casinos, horse racing, and online gaming at 28 percent was made by the Group of Ministers (GoM) earlier in May, the report added. https://twitter.com/mehulshahca/status/1542042691688472577 Why it matters: Online gaming has been identified as a sunrise industry and clarity on taxation helps bring regulatory stability to the sector. The decision is likely to bring (temporary) relief to industry stakeholders because the decision, if implemented, may have had an adverse impact on the growth of the sector. Why was the decision deferred: The GST council decided to refer the report of the GoM, which made the recommendation, back to the panel of ministers for further deliberation, as per Business Standard. The decision was triggered by the demand of Goa’s finance minister who wanted further discussions on the GST rate on casinos, the business daily revealed. A discussion on casinos would include horse racing and gaming as well because the GoM had likened these three activities to gambling. What happens next: The report will be prepared by July 15 following which the GST council will refer to it in its next meeting in August, according to Business Standard. Who are the members in GoM: The group was formed in May 2021 by the Union government for better valuation of services of casinos, online gaming portals…

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I cover several beats such as Crypto, Telecom, and OTT at MediaNama. I can be found loitering at my local theatre when I am off work consuming movies by the dozen.

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