However, redeployed winnings will be excluded from the indirect taxation.
The new regime will be reviewed after six months of implementation, finance minister Nirmala Sitharaman said.
However, there would be an income tax on winnings, as per law. The GST Council also decided to amend the Integrated GST Act, which deals with importing goods and services, to require registration of offshore gaming platforms serving Indian consumers and to collect GST from them. Also, offshore online money gaming platforms not complying with this requirement will be blocked.
The central government is expected to move amendments to CGST Act in the current session of Parliament. While the proposed changes bring clarity on taxation of online gaming, casinos and horse racing, the Supreme Court will have the final word on tax demands raised so far under existing law. The central government on Tuesday filed a special leave petition in the Supreme Court challenging a Karnataka high court order that gave a favourable ruling in a dispute with Gameskraft Technologies Pvt. Ltd, revenue secretary Sanjay Malhotra said.
Bu hikaye Mint Mumbai dergisinin August 03, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin August 03, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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