03 Aug 2023 05:54 PM
New

Gaming industry slams no rollback on 28% taxation

Source: https://www.livemint.com/news/india/gaming-industry-slams-no-rollback-on-28-taxation-11690996708034.html

New Delhi: In a blow to the domestic online gaming industry, the government's GST Council on Wednesday decided not to roll back the 28% GST on the sector.

03 Aug 2023 06:01 PM
New

GST law on online gaming from 1 October; review after 6 months

Source: https://www.livemint.com/economy/gst-law-on-online-gaming-from-1-october-review-after-6-months-11691000621244.html

NEW DELHI : The Goods and Services Tax (GST) Council, in a divided decision, decided to amend central and state laws from 1 October to ensure that 28% GST is paid on the full value of amounts deposited by players for betting on online games, casinos, and horse races. However, redeployed winnings will be excluded from the indirect taxation.

03 Aug 2023 06:05 PM
New

Delta Corp share price falls over 8% as 28% GST on casinos to be implemented from October 1

Source: https://www.livemint.com/market/stock-market-news/delta-corp-share-price-falls-over-8-as-28-gst-on-casinos-to-be-implemented-from-october-1-11691035565606.html

The Goods and Services (GST) Council in its 51st meeting held virtually on August 2 decided that it will review the 28% tax levied on online gaming, casinos, six months after it comes into effect from October 1, 2023.

03 Aug 2023 06:09 PM

Recommendations of 51st GST Council Meeting

Source: https://taxguru.in/goods-and-service-tax/recommendations-51st-gst-council-meeting.html

GST Council recommends certain amendments in CGST Act 2017 and IGST Act 2017, including amendment in Schedule III of CGST Act, 2017, to provide clarity on taxation of supplies in casinos, horse racing and online gaming

03 Aug 2023 06:12 PM

Rising GST & Tax Evasion: An Insight into Efforts & Statistics

Source: https://taxguru.in/goods-and-service-tax/rising-gst-tax-evasion-insight-efforts-statistics.html

In a rapidly digitising world, ensuring tax compliance has become a challenging task for governments worldwide, and India is no exception. In response to a recent Lok Sabha query, the Government of India has shared insightful details on how they’re battling the rising challenge of GST and tax evasion, painting an intriguing picture of their strategies and achievements.

02 Aug 2023 05:10 PM

Gaming sponsors brace for impact amid GST turmoil

Source: https://www.livemint.com/sports/cricket-news/gst-council-s-potential-higher-taxation-on-the-gaming-industry-could-lead-to-significant-budget-cuts-for-top-sponsors-11690911488416.html

New Delhi: The marketing budgets of the top gaming industry sponsors could go haywire this year if the Goods and Services Tax (GST) Council on 2 August announces a higher taxation on the industry.

02 Aug 2023 05:16 PM

GST Council meeting today: Officials may take key decision on 28% tax on online gaming

Source: https://www.livemint.com/news/india/gst-council-meeting-today-officials-may-take-key-decision-on-28-tax-on-online-gaming-11690940289812.html

GST Council to discuss and decide on levying 28% GST on online gaming, casinos, and horse racing. Gamers and gaming companies have requested a revocation of the decision as it may hinder the growth of startups.

02 Aug 2023 05:20 PM

GST Council meet today: Here is what to expect

Source: https://www.livemint.com/economy/gst-council-meet-today-here-is-what-to-expect-11690958234545.html

Federal indirect tax body, the Goods and Services Tax (GST) Council, will on Wednesday finalize the fine print of the indirect tax regime covering online gaming, casinos and horse racing and put in place ways to check any tax evasion. Mint takes a look at what to expect and why online gaming platforms are up in arms.

Federal indirect tax body, the Goods and Services Tax (GST) Council, will on Wednesday finalize the fine print of the indirect tax regime covering online gaming, casinos and horse racing and put in place ways to check any tax evasion. Mint takes a look at what to expect and why online gaming platforms are up in arms.

02 Aug 2023 05:31 PM

Impressive Growth in Monthly GST Collection for FY 2021-22 & FY 2022-23

Source: https://taxguru.in/goods-and-service-tax/impressive-growth-monthly-gst-collection-fy-2021-22-fy-2022-23.html

The Ministry of Finance has disclosed the monthly average gross Goods and Services Tax (GST) collection for the financial years 2021-22 and 2022-23, showcasing significant year-on-year growth. This article provides a detailed analysis of the GST collection data, along with insights into the government’s reforms to enhance GST compliance and increase tax collection.

02 Aug 2023 05:34 PM

July 2023 GST Revenue Collection: ₹1,65,105 Crore with 11% YoY Growth

Source: https://taxguru.in/goods-and-service-tax/july-2023-gst-revenue-collection-11-percent-yoy-growth.html

The Ministry of Finance, Government of India, has released the GST revenue collection data for July 2023. The figures show a significant increase in GST collections compared to the same period last year. This article provides an in-depth analysis of the revenue collection and its implications.