The finance ministry on Wednesday notified the way deposits made to online gaming platforms and casinos will be treated for tax purposes, clarifying that refunds made to the player will not get any relief on tax. The changes are introduced by amending CGST rules 2017, by way of CGST (Third Amendment) Rules, 2023, which are … Read more
The Union cabinet on Wednesday cleared legislative changes needed to implement the GST Council’s decision to ensure that 28% GST is paid on the full value of amounts deposited by players for betting on online games, casinos and horse races, three people familiar with the development said. The cabinet clearance to the bill enables the … Read more
Ruling out any change in the proposed 28% GST on online gaming and casinos, government sources said it is prudent to stick to levying tax on the gross value as any other method comes with complications in businesses that lack transparency. The gaming industry has been seeking a review of last month’s GST Council decision, … Read more
Taking action against the Tamil Nadu government’s ban on online gaming, the E-gaming Federation (EGF) is set to challenge the new law citing that it categorizes rummy and poker as games of chance. In a statement, Sameer Barde, CEO of EGF, said: “After examining the Ordinance, we have decided to file a lawsuit as it categorises … Read more
Fantasy sports are not like any other form of online gaming as it is dependent on actualities, seasonality and availability of real-time sports matches, which makes it a non-addictive form of play. Government think tank Niti Aayog has pitched for setting up a single self-regulatory organisation for the online fantasy sports industry to be governed … Read more