GoM To Submit Report On Online Gaming Taxation The sources also said that the GST council is likely meet during the end of this month or by early September to discuss about the report by GoM
By Teena Jose
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
A panel of state finance ministers, reportedly, submit a report on taxation of Casinos and online gaming to finance minister Nirmala Sitharaman in a day or two, as per government sources said on Thursday. It is also said that the GST council is likely meet during the end of this month or by early September to discuss about the report by GoM.
As per data available, in an early report by GoM, under Conrad Sangma, the Meghalaya chief minister, had proposed to GST council to levy 28 per cent GST on gross sales value as online gaming, casinos and horse racing are akin to betting and gambling.
According to earlier reports, GoM had submitted a report to GST council last month, in which it had recommended that online gaming should be taxed at the full value of the consideration. It was said to include the contest entry fee paid by the players for participating in a game.
With regard to race course, GoM had suggested that GST should be levied on the full value of bets pooled in the totalisators and placed with the bookmakers.
For casinos, GoM had recommended that the tax should be levied on the full face value of the chips or coins purchased from a casino by a player.
Suresh Khanna (Uttar Pradesh), Kanubhai Patel (Gujarat), P. Thiaga Rajan (Tamil Nadu), and T Harish Rao (Telengana) are the other state finance ministers included in the eight-member GoM panel.
