Government to Finalise GST Rates on Online Gaming in August: FM Nirmala Sitharaman

The Group of Ministers on Casino, Race Course and Online Gaming will re-examine the issues and submit its report by July 15.

By Press Trust of India | Updated: 30 June 2022 02:03 IST

Government to Finalise GST Rates on Online Gaming in August: FM Nirmala Sitharaman

GoM will give one more hearing for online games, horse racing and submit report by July 15

Highlights

GoM asked to differentiate Casino from online gaming and horse racing
GST Council will meet on this GoM's agenda in 1st week of August
GoM to be constituted to address various concerns raised by the States

Finance Minister Nirmala Sitharaman on Wednesday said that the GST rates on online gaming, horse racing and casinos will be finalised in the 48th GST Council Meeting which will be held in the first week of August in Madurai. Sitharaman was addressing a Press Conference on the outcome of 47th GST Council meeting.

The Council directed that the Group of Ministers on Casino, Race Course and Online Gaming re-examine the issues in its terms of reference based on further inputs from States and submit its report by July 15 as Goa has raised the issue and asked to differentiate the Casino from online gaming and horse racing.

"Following Goa's request for special treatment for casinos, it was decided that GoM will give one more hearing for online games and horse racing as well; the GoM will submit the report by July 15 and GST Council will hence meet again on this GoM's agenda in 1st week of August," said the Finance Minister.

India’s CBDC Use-Cases Being Explored for Commercial Purposes: FM

On the question of compensation cess, Finance Minister said that broadly states said that compensation can be continued at least for a few years, if not for five years. Around 15-16 spoke about the compensation.

Minister said that GoM to be constituted to address various concerns raised by the States on GST Appellate Tribunal and amendments in CGST Act. GoM on IT Reforms, inter alia, recommended that the GSTN should put in place the AI/ML based mechanism.

Revenue Secretary Tarun Bajaj said that the 3rd GoM has made specific recommendations on what GSTN needs to do to address issues such as fake invoice bills; for example, risk-based models will be developed which will place greater pre-registration checks on riskier entities.

Finance Minister Says India to Take a Considerate Decision on Crypto Regulation

"Artificial Intelligence and Machine Learning utilities will be developed to ensure that we have better compliance than we have now; the GoM will keep giving suggestions and the GSTN will keep implementing them," he concluded.

Finance Minister Nirmala Sitharaman Invites US Chip Firms to Invest in India

The two-day 47th GST Council meeting was held in Chandigarh on Wednesday. The GST on numerous items were also revised during the meeting.

What are the best games of 2021? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.