GST on Casino, Online Gaming, Horse Racing: Will tax be hiked from 18% to 28%? GoM meeting today - What we know so far

GST on Casino, Online Gaming: A meeting of the Group of Ministres (GoM) will be held on Tuesday to decide the tax bracket of Goods and Services Tax (GST) for Casino, Online Gaming, and Horse Racing. In this meeting, the GoM will consider increasing the GST by 28%. Check Zee business Ambarish Pandey's report.

According to the report, the GOM meeting will consider increasing the GST from 18% to 28% on casinos, online gaming and horse racing. Along with this, the GST applicable on the bet amount or the entire amount will also be considered.

The decision was not taken in the GST Council held last month and was asked to make a decision by July 15, said Pandey.

In the last GST meeting chaired by Finance Minister Nirmala Sitharaman which also included the state finance ministers, the report was sent back to the Group of Ministers (GoM) for further discussion and for submission of the final report. The deadline was set for July 15, as per PTI report.

Actually, the GoM in its report highlighted that horse racing, online gaming, and casino are part of betting and gambling and should be levied 28 percent GST.

The Group of Ministers, chaired by Meghalaya Chief Minister Conrad Sangma, has recommended that online gaming should be taxed on the full value of consideration, including competition entry fees paid by a player for participating in the game, said PTI.