GST Council Meeting: A big decision may come on online skill gaming in the GST Council meeting, know how much tax will increase?

Posted on 27th Jun 2022 02:02 pm by rohit kumar

The Goods and Services Tax Council can make a big decision on online skill gaming in its two-day meeting. The Goods and Services Tax can be increased to 28 percent in the upcoming meeting of the GST Council. If this decision is taken, then online skill gaming will also come under the category of gambling and betting market with a 28% tax. Let us tell you that there is a debate going on in the country for a long time that online skill gaming and gambling should not be differentiated only based on which one is related to skill, luck, or both.

 

Let us tell you that the meeting of the GST Council is going to be held in Chandigarh on 28-29 June. Let us tell you that even before the meeting of the GST Council, the Central Government had decided to continue the State Compensation Cess till the year 2026. Earlier its period was to end on June 30. Earlier, Finance Minister Nirmala Sitharaman had said that after June 30, compensation will not be given to the states. Now after the decision to continue the cess, it is expected that for the time being the system of giving compensation to the states will continue.

 

This time the meeting of the GST Council is going to be held under the chairmanship of the Finance Minister after six months. According to media reports, the report of the Group of Ministers (GoM) will be presented at this meeting of the GST Council. It is noteworthy that under the framework of GST, a Group of Ministers was constituted to rationalize the GST rates for different items. According to sources, it is reported that this time in the meeting of the GST Council, a decision can be taken to levy GST at the rate of 28 percent on items like casinos, lottery race courses, and online gaming.

 

Also Read: TDS On Cryptocurrency: Cryptocurrency investors will have to pay one percent TDS from July 1, 2022, know the rules

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