GST Council decision 2023
GST Council decision: No help for online gaming companies… 28% GST from October 1!
28% GST on online gaming: Finance Minister Nirmala Sitharaman said the 28% GST should come into effect on October 1, 2023. At the meeting, it was decided that this decision would be reviewed after 6 months.
The 51st GST Council meeting was held in Budhwar under the chairmanship of Finance Minister Nirmala Sitharaman. Sports such as online gaming, casinos and horse riding were decided to apply GST on the 28th. According to the Finance Minister, the GST will be implemented from October 1, 2023.
Online gaming companies oppose 28% GST.
Minister of State for Finance, Pankaj Chowdhury, said the GST Council meeting resulted in extensive deliberations on many areas due to GST rates and improvements. GST rates on online gaming, casinos and horse riding were also decided.
This decision could be implemented from October 1.
In line with the decision taken at the last meeting, the Council decided that the GST rate would be reviewed after 6 months. Interestingly, at previous meetings, online gaming was 28, but it was decided to levy GST at the correct rate, which was opposed by gaming companies. Furthermore,” he added, “when I say 6 months, it doesn’t mean that it starts today, but that implementation begins. After Wednesday’s meeting, Finance Minister Nirmala Sitharaman said, “It (the 28% GST on online gaming and casinos) is expected to come into effect on October 1, 2023. It was also decided at the meeting that it would be reviewed after six months of implementation.
