The decision to implement a 28 percent tax on the full face value of bets placed on online games will go into effect on October 1, despite calls for a review from states like Delhi and Goa, according to finance minister Nirmala Sitharaman. She made this announcement on Wednesday after the GST Council discussed the necessary amendments to tax online gaming during their panel meeting. During the meeting, the panel also deliberated on the changes to tax laws required to enforce the decision made at the previous meeting to levy a 28 percent GST on the full face value of bets.
Sitharaman noted that while the finance minister of Delhi opposed the tax on online gaming, Goa and Sikkim preferred a levy on gross gaming revenue (GGR) rather than face value. On the other hand, several states including Karnataka, Gujarat, Maharashtra, and Uttar Pradesh supported the implementation of the decision made at the previous meeting. Once the central and state laws have been amended accordingly, the new tax will likely be enforced starting from October 1. Sitharaman also mentioned that there will be a review of the levy after six months of its implementation.
Last month, India surprised the burgeoning online gaming industry, which is backed by global investors, by imposing a 28 percent tax on the funds collected from customers for every bet.
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