The Goods and Services Tax Council has completed its review of the levy.
India.- The Goods and Services Tax (GST) Council of India has opted to retain the 28 per cent tax on online gambling, casinos, and horse race betting following a review of the policy. The levy was implemented last October.
Nirmala Sitharaman, finance minister of the South Asian country, said online gambling revenue saw a rise of 412 per cent between November 2023 and April 2024 to ₹6,909 Crore (US$823m). Revenue from land-based casinos increased by 30 per cent, reaching ₹1,214 Crore (US$25.5m).
Various online gaming companies had previously expressed concerns over the potential ramifications of the tax, arguing that it could impact the overall viability of gaming businesses. The Centre for Knowledge Sovereignty (CKS), a policy think tank based in Delhi, also released a study suggesting high taxes and insufficient legal frameworks would drive people towards illegal online gambling.
The Goods and Services Tax Council has completed its review of the levy. India.- The Goods and Services Tax (GST) Council of India has opted to retain the 28 per…
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