Last year, the Supreme Court held that the recommendations of the GST Council are not binding on the Parliament and State Legislatures. The apex court opined that had the Parliament intended to make recommendations of the GST Council mandatory the concerned article 279A of the Constitution would have said so explicitly. The recommendations pertaining to […]
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Last year, the Supreme Court held that the recommendations of the GST Council are not binding on the Parliament and State Legislatures. The apex court opined that had the Parliament intended to make recommendations of the GST Council mandatory the concerned article 279A of the Constitution would have said so explicitly.The recommendations pertaining to rate […]
The post Will 28% GST on real money gaming & casinos pose a unique constitutional crisis in post GST era? appeared first on G2G News.
The most prominent fantasy gaming platform Dream11 is likely to slash its operating profit target by 80% if a report by The Arc is to be believed. The reported development comes after the GST Council announced that the online gaming sector will be taxed at 28% on the full face value amount. The report adds […]
The post Reports: Dream11 expects 80% drop in operating profit for FY24 after GST Council’s decision appeared first on G2G News.
Popular businessman and one of the judges on Shark Tank India, Anupam Mittal, recently poked fun at the latest GST council decision to increase the tax rate on online gaming to 28% on full face value. Mittal said, “Latest lessons – stop gaming, start building rockets, move money from crypto to tomatoes,” implying that people […]
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Google’s latest marketplace policy update have paved the way for apps containing asset that can be purchased and bought with digital tokens. “Today, we’re pleased to share that we’re updating our policy to open new ways to transact blockchain-based digital content within apps and games on Google Play,” says an official post by Group Product […]
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A group of players from the skill gaming industry on Friday urged the government to reconsider its approach to GST on online gaming. The plea comes in response to the recent decision by the GST Council to impose a 28% GST on the full face value of online gaming, clubbing it with horse racing, lottery, […]
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The Goa Pradesh Congress Committee (GPCC) General Secretary Vijay Bhike commented on the statement made by Industries Minister Mauvin Godinho relating to the GST Council’s decision to levy 28% tax rate on casinos, online gaming, and horse racing, saying the latter has “fallen in love” with the casino industry. Mauvin Godinho had said that he […]
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Senior counsel Mukul Rohatgi, representing Junglee Rummy, A23 and Games24x7, accused the Tamil Nadu state government of ignoring all the judgments passed by the Supreme Court, including ruling rummy as a game of skill. He again questioned the competence of the state to form the legislation to ban online rummy, something that Rohatgi believes only […]
The post TN legislature disregarding SC judgments by banning online rummy and poker: Mukul Rohatgi in Madras HC appeared first on G2G News.
Rajeev Chandrasekhar, Minister of State for MeitY, supported the GST Council’s decision on online gaming, calling it a “well-thought-out preliminary measure.” It is to be noted that the decision is being termed as a clarification by the government to levy 28% GST on the sector on the full face value amount. Chandrasekhar said that the […]
The post Rajeev Chandrasekhar backs GST Council’s decision to levy 28% tax on online real money gaming appeared first on G2G News.
On 11th July, 2023 the apex constitutional indirect tax body, the Goods and Services Tax (GST) Council in its 50th meeting decided to levy a 28% GST on full face value of bets or contest entry fees for online gaming for stakes (without making a distinction between games of skill and chance), casinos and horse […]
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