The Lok Sabha today approved amendments to the Central and Integrated GST laws to levy 28% tax on the...
Digital Desk: The Lok Sabha today approved amendments to the Central and Integrated GST laws to levy 28% tax on the full face value of bets in online gaming, casinos, and horse race clubs.
Finance Minister Nirmala Sitharaman introduced bills in the House on Friday, the last day of Parliament's monsoon session, amid opposition protests over Congress leader Adhir Ranjan Chowdhury's suspension.
The Lok Sabha passed the Central Goods and Services Tax (Amendment) Bill, 2023, and the Integrated Goods and Services Tax (Amendment) Bill, 2023, by voice vote without debate.
States will now get the amendments passed in the state GST laws in their respective assemblies.
The amendments concern the inclusion of a provision in Schedule III of the CGST Act, 2017, to clarify the taxation of supplies in casinos, horse racing, and online gaming.
The IGST Act has been amended to include a clause imposing GST responsibility for online money games provided by offshore firms. Such businesses would need to register for GST in India.
The amendments would also allow for blocking access to offshore online gambling platforms in the instance that registration and tax payment requirements are not met.
The amendments to the Central GST (CGST) and Integrated GST (IGST) laws were approved by the GST Council last week.
The council had approved a 28% GST fee on the full face value of entry-level bets in online gaming, casinos, and horse racing.
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