Gst On Online Gaming : 28% GST on Online Gaming From October 1, Notification issued
Gst On Online Gaming : There is big news on GST imposed on online gaming. GST notification regarding online gaming has been issued. Now tomorrow i.e. October 1, 28% GST rate will be applicable on online gaming. This tax will be levied on the entire face value of bets placed on online gaming.
Last Thursday, Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Kumar Aggarwal made it clear that 28 percent GST will be applicable on online gaming from October 1. Aggarwal said that he is fully prepared to implement it. He clarified that as per the decision taken in the last meeting of the GST Council, the related notifications are under process. After this the notification has now been issued.
Read More - Vivo V29e Smartphone Has Come To Make indian Beauties Crazy, With 256GB Storage The Price is Only This
It was announced on this day
In fact, at the beginning of last month, Finance Minister Nirmala Sitharaman had announced 28% GST on online gaming. She had said after the 51st GST Council meeting that now 28% tax will be levied on the entire face value of bets placed on online gaming from October 1. Tax will be imposed. However, gaming companies had appealed to the GST Council to postpone this decision.
Next meeting on October 7
The next meeting of the GST Council will be held on October 7 at Vigyan Bhawan in New Delhi. Many important decisions are likely to be taken in this meeting to be chaired by Union Finance Minister Nirmala Sitharaman. Earlier, the 51st meeting of the GST Council was held on August 2. In this meeting, the Council had taken the decision regarding GST rates on casino, horse racing and online gaming. The GST rate on these three items was fixed at 28 percent. Finance ministers of the states were also present in the meeting.
Superfast News Coverage By YuvaPatrkaar.com Team
Publish Date : September 30, 2023
Posted By Ravi Kumar
Follow Us on Google News - Click For Latest News
