28% GST on online gaming: The decision to levy 28% Goods and Services Tax (GST) on online gaming on full value is unlikely to be reviewed or rolled back, though the industry is hoping for some relief. Official sources indicated that there is no review of the decision by the GST Council. “There are no plans for a review,” said a person familiar with the matter. The GST Council took this decision unanimously after much deliberation.
A notification giving effect to this decision is possible after the GST Act is amended in the monsoon session of Parliament. Online gaming firms and players are understood to have written to the finance ministry to reconsider the 28% GST, expressing concern It is believed that this will adversely affect the development of the sector, cause job losses and increase the cost of the companies.
This will lead to loss of employment opportunities and will have a huge impact on major investors who have invested heavily in this emerging sector, he added.
On Monday, the Confederation of All India Traders (CAIT) also called upon Prime Minister Narendra Modi to intervene, re-evaluate and set aside the GST Council’s decision to levy GST on full face value for online gaming and clubbing it with gambling activities. Did.
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