Online gaming companies to collect 28% on full bet value, offshore platforms to be GST registered from October 1
The Hindu
Online gaming companies to charge 28% GST from Oct 1; offshore platforms must register in India. GST Council approved amendments to law to include online gaming, casinos & horse racing as taxable actionable claims.
From October 1, online gaming companies will charge 28% GST on full value of bets, while offshore platforms too would be required to have GST registration to operate in India.
The Finance Ministry late on Friday notified October 1 as the appointed date for the amended provisions in Central GST and Integrated GST laws to come into effect.
E-gaming companies, however, flagged that since many states are yet to pass amendments in their respective State GST (SGST) laws, this notification by the union government in CGST and IGST laws will create confusion.
According to the changes to the Central GST Act, online gaming, casinos and horse racing will henceforth be treated as "actionable claims" similar to lottery, betting and gambling and subject to 28% Goods and Services Tax (GST) on full face value of bets.
The amendments to Integrated GST (IGST) Act makes it mandatory for offshore online gaming platforms to take registration in India and pay 28% tax in accordance with the domestic law.
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.
In its meetings in July and August, the GST Council, comprising finance ministers of Centre and states, had approved amendments to the law to include online gaming, casinos and horse racing as taxable actionable claims, and clarified that such supplies would attract 28% tax on full bet value.
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