On the 2nd of August 2023, the 51st meeting of the Goods and Services Tax (GST) Council was conducted through video conferencing in New Delhi, with Nirmala Sitharaman, the union Finance Minister, presiding over the session along with Revenue Secretary Sanjay Malhotra, Union Minister of State for Finance Pankaj Chaudary and other state ministers too.
The key highlights are:
- No Change for 28% GST on Online Gaming, Casinos, Horse Racing
- Amendments in CGST and SGST Act regarding online gaming taxes
- Council to review GST implementation of online gaming after its 6 months implementation period for online gaming
- Approves clear definition of actionable claims
- Approves inclusion of Online Money Gaming in definition of Online Gaming
- Approves definition of online money gaming includes games based on both skill & chance
- Approves definition of online gaming as those ‘offered on internet or e-network including online money gaming’
- Approves to insert definition of ‘virtual digital asset’ in GST law as defined in IT Act
- Council approves in bringing online money gaming supplied by entity located outside taxable territory under IGST ambit
- Approval of proposal to block all online gaming apps/platforms not complying with tax rules
- Offshore Gaming companies registration and liable to action under IT act if not complied with provisions.
- Council to differentiate Online gaming and online money gaming
- Notifications will be provided on ‘Place of supply’ if required.
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