GoM finalizes report on GST on casinos, race courses, online gaming; 28 pc tax to be levied
Highlights
- A final report on the same is now ready, which will be taken up in the upcoming GST Council meeting
- In an earlier meeting, it was decided on hiking the tax rate on these services to 28%
- The final report will soon be handed over to Finance Minister Nirmala Sitharaman
The panel of ministers tasked to review the GST levy on casinos, racecourses and online gaming has finalized its report, which will be taken up in the upcoming GST Council meeting.
The Group of Ministers, chaired by Meghalaya Chief Minister Conrad Sangma, had in its previous meeting earlier this month unanimously decided on hiking the tax rate on these services to 28 per cent.
The GoM met again on Wednesday and finalized the method of evaluating these services for the purpose of levying this tax.
“The Group of Ministers (GoM) on casinos, racecourses & online gaming has come to a consensus. The report of our submissions will be handed over to Hon’ble FM, Smti. @nsitharaman Ji in a day or two & the matter will be presented in the next @GST_Council Meeting,” Sangma tweeted.
At present, services of casinos, horse racing and online gaming attract 18 per cent GST.
The government had in May last year set up a panel of state ministers for better valuation of services of casinos, online gaming portal and racecourses for levying Goods and Services Tax (GST).
The report of the GoM is likely to be taken up in the next meeting of the GST Council expected later this month.
Other state ministers in the eight-member GoM include Maharashtra deputy chief minister Ajit Pawar, Gujarat finance minister Kanubhai Patel, Goa panchayati raj minister Mauvin Godinho, Tamil Nadu finance minister P Thiaga Rajan, Uttar Pradesh finance minister Suresh Khanna and Telangana finance minister T Harish. Rao.
(Except for the headline, Indiatvnews.com has not edited the copy)
Also Read | Delhi records highest ever GST collection of over Rs 2,800 cr for April
,