On 2nd August, the 51st meeting of GST Council presided by Finance Minister Nirmala Sitharaman has taken Significant decisions on Gaming Industry
1. No Change for 28% GST on Online Gaming, Casinos, Horse Racing
2. GST Council approves clear definition of Actionable Claims
3. It includes Online Money Gaming in definition of Online Gaming
4. The definition of Online Money gaming includes games based on both skill & chance
5. The Council approves to insert definition of ‘virtual digital asset’ in GST Law as defined in IT Act
6. The Council brings online money gaming supplied by entity located outside taxable territory under IGST ambit
7. Offshore Gaming companies registration and liable to action under IT act if not complied with provisions.
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