Monday, May 20, 2024
Advertisement
  1. You Are At:
  2. News
  3. India
  4. Parliament: Lok Sabha passes Bill to levy 28 pc tax on on e-gaming, casinos

Parliament: Lok Sabha passes Bill to levy 28 pc tax on on e-gaming, casinos

Sitharaman introduced the Central Goods and Services Tax (Amendment) Bill, 2023, and The Integrated Goods and Services Tax (Amendment) Bill, 2023 in Lok Sabha amid protests and uproar by the Opposition over the suspension of Congress leader Adhir Ranjan Chowdhury from the House.

Edited By: India TV News Desk New Delhi Updated on: August 11, 2023 13:31 IST
Union Finance Minister Nirmala Sitharaman
Image Source : YOUTUBE/SANSAD TV Union Finance Minister Nirmala Sitharaman

GST on online gaming: Lok Sabha passed amendments to Central, Integrated GST laws to levy 28 pc tax on e-gaming, casinos on Friday (August 11).

Finance Minister Nirmala Sitharaman =introduced Bills seeking to amend the Central and Integrated GST laws to levy 28 per cent tax on the full face value of bets in online gaming, casinos and horse race clubs.

Sitharaman introduced the Central Goods and Services Tax (Amendment) Bill, 2023, and The Integrated Goods and Services Tax (Amendment) Bill, 2023 in Lok Sabha amid protests and uproar by the Opposition over the suspension of Congress leader Adhir Ranjan Chowdhury from the House.

Today is the last day of the Monsoon Session of the Parliament.

The states will get amendments in state GST law cleared by the respective assemblies once the amendments to CGST and IGST laws are passed.

Through the amendments, the government seeks to insert a provision in the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming.

The amendment in IGST Act relates to inserting a provision to impose GST liability on online money gaming provided by offshore entities.

Such entities would be required to get GST registration in India.

The amendments will also provide for blocking access to online gaming platforms located overseas in case of failure to comply with registration and tax payment provisions.

Last week, the amendments to the Central GST (CGST) and Integrated GST (IGST) laws were approved by the GST Council.

The council had approved levy of 28 per cent GST on full face value of entry level bets in online gaming, casinos and horse racing.

(With PTI inputs)

ALSO READ | Telangana: KTR questions Lok Sabha Speaker over BJP MP's 'filthiest language' against KCR

ALSO READ | Parliament Monsoon Session LIVE: Amit Shah speaks on Bharatiya Nyaya Sanhita Bill in Lok Sabha

Advertisement

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from India

Advertisement
Advertisement
Advertisement
Advertisement