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Betting, gambling, online gaming to be taxed under GST: Meghalaya CM

Northeast NewsbyNortheast News
August 4, 2023
in Meghalaya
Betting, gambling, online gaming to be taxed under GST: Meghalaya CM

The Chief Minister said that the amendments align with the government's efforts to regulate these sectors and create a more structured taxation environment.

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SHILLONG: Meghalaya Chief Minister Conrad K Sangma announced on August 4 that betting, gambling, lottery, online gaming with money, and horse racing would no longer be exempted under “Actionable Claims” in the GST Act.

“The GST Council has agreed upon amendments to the GST Act and from now on these activities will be taxed,” he said, informing that the decision was taken in a meeting of the GST Council on August 2.

In the meeting, they also addressed the technical aspects of taxation for online gaming and related services. Previously, service providers were taxed at 18% on the platform fee received. However, it was decided in the meeting to impose tax on the entire transaction amount, not just the platform fee.

Regarding online gaming taxation, the approach that was finalised in the meeting, involves a one-time levy on the initial amount that players invest in the system and purchase credits. Subsequent transactions within the system will not be subject to additional tax, he said.

Sangma emphasised that these decisions, though technical in nature, are crucial in establishing a fair and transparent taxation system for betting, gambling, and online gaming activities. “The Centre will pass an ordinance to implement the agreed-upon amendments,” he informed.

He asserted that these decisions are expected to bring clarity and uniformity to the taxation process for these activities and contribute to the broader taxation framework of the country. The amendments align with the government’s efforts to regulate these sectors and create a more structured taxation environment.

Tags: gamblingGSTMeghalaya
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