Conrad Sangma: top related news
06.07 / 10:39
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Hiking GST on online gaming from 18% to 28% will negatively impact industry, say experts
Indian Finance Minister Nirmala Sitharaman deferred the proposal to levy 28 percent GST on casinos, online gaming, horse racing, and the lottery. The Group of Ministers (GoM), headed by Meghalaya CM Conrad Sangma, has been asked to re-deliberate the tax rate on horse racing, online gaming, and casinos by July 15. As of now, an 18 percent GST is levied on these avenues, which is called gross gaming revenue (GGR). Experts believe the proposed 28 percent GST on entry fee/deposits is going to adversely impact the gaming industry. The new recommendation, they believe, is contradictory to global best practices, and will effectively raise the tax that companies pay by as much as 1000 to 1500 percent. And this is worrying gaming companies. Also Read — Maruti Suzuki new SUV to be unveiled this month: Report
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