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'28% Of Tax To Be Imposed On Online Gaming, Horse Racing, And Casinos Soon', Says Nirmala Sitharaman
Posted
July 12, 2023
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2,885
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July 12, 2023
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3:25Now PlayingOnline gaming can be more expensive now. After its 50th session, the GST Council has agreed to put 28% GST on online gaming, horse racing, and casinos. The GST Council has also decided to strengthen the definition of utility vehicles and the regulations on taxation.
Nirmala Sitharaman briefed the media about the same and said, 'Online gaming, horse racing, and casinos will be taxed. They will be taxed at 28% each, and they will be taxed at full face value.'
Joy Bhattacharya, Director of FIFS, talks to Mirror Now and says, We think that this is disastrous for the industry. This is a situation where we are trying to build a $5 trillion economy, of which $1 trillion is a gaming economy. This is going to push the entire online gaming industry back to its roots. And this will hurt consumers first and foremost. This will really, really hurt the actual startups, which are the lifeblood of our economy.'
#onlinegaming #nirmalasitharaman #gstononlinegaming #taxononlinegaming
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