Home   »   Economy and Finance   »   GST Council to talk about modifying...

GST Council to talk about modifying law, online gambling and casinos

The Goods and Service Taxes (GST) Council is going to talk about changing the law to make it easier to create GST tribunals. A report by a Group of Ministers (GoM) on online gambling, casinos, and racetracks will also be discussed by the Council. The GoM has proposed that rates and valuation standards for the 28 percent GST that will be imposed on casinos, racetracks, internet gambling, and lotteries be uniform. It said that no distinction should be made between games of skill and games of chance for the purposes of the levy.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams


  • It is advised that in the case of online gaming, the full value of consideration will take into account any contest entry fees, player participation fees, etc., whereas in the case of racetracks, the full value of bets placed with bookmakers and pooled in the totalisator should be taken into account.
  • In the case of casinos, the entire face value of any chips or coins that customers purchase from a casino will be taken into account.
  • The value of bets put in each round of betting, including those played using winnings from earlier rounds, shall not be subject to additional tax after GST is charged on the purchase of chips or coins (on face value).
  • Additionally, it is advised that the entry charge to casinos include the cost of one or more additional supplies, such as the cost of food and beverages.
  • Any other extra services or optional purchases made without using an entry ticket will be subject to tax at the rate that applies to such purchases.

Find More News on Economy Here

GST Council to talk about modifying law, online gambling and casinos_4.1

Indian's funds in Swiss banks jumps over Rs 30 lakh crore in 2021_90.1

Leave a comment

Your email address will not be published. Required fields are marked *