Lok Sabha Passes GST Amendment Bill 2023: 28% Levy on Online Gaming, Horse Racing, Gambling From October 1
Parliament on Friday passed the amendments in the Central GST as well as Integrated GST legislations to allow 28 per cent levy on full face value of bets placed in casinos, horse racing and online gaming.
New Delhi, August 11: Parliament on Friday passed the amendments in the Central GST as well as Integrated GST legislations to allow 28 per cent levy on full face value of bets placed in casinos, horse racing and online gaming. The Lok Sabha passed the Central Goods and Services Tax (Amendment) Bill, 2023 and the Integrated Goods and Services Tax (Amendment) Bill, 2023, which were later returned by the Rajya Sabha. States will now get the amendments passed in the state GST laws in their respective Assemblies.
The amendments pertain to insertion of a provision in the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming. The amendment in IGST Act relates to inserting a provision to impose GST liability on online money gaming provided by offshore entities. Such entities would be required to get GST registration in India. The amendments will also provide for blocking access to online gaming platforms located overseas in case of failure to comply with registration and tax payment provisions. Rahul Gandhi Makes Scathing Attack on PM Narendra Modi, Says 'He Wants To Burn Manipur, Doesn't Want to Douse Fire' (Watch Video).
The two bills were cleared by the Union cabinet earlier this week, and their passage by Parliament will now allow implementation of the 28 per cent GST levy on online gaming, horse racing and gambling in casinos from October 1 onwards. During its meeting held on August 2, the GST council had fixed the date of October 1 for levying 28 per cent GST on these activities and had further said that after six months, if the need arises, the tax structure may be changed. Finance Minister Nirmala Sitharaman on Friday introduced the two bills in the Lok Sabha, which was the last day of the monsoon session. Both the bills were passed without discussion through voice vote by the Lower House, as the opposition was absent, since it had staged a walk out in protest against suspension of the leader of Congress in the House, Adhir Ranjan Chowdhury. Haryana Communal Riots: Farmer Unions, Khaps Panchayats Demand Fair Probe Into Nuh, Gurugram Violence, Urge People To Avoid Misleading Videos.
Before walking out, the Congress leaders were seen standing in the well of the House holding placards which read 'Save Democracy', and shouting slogans 'Nirav Modi Come to the House' and 'Manipur mein Nirav Hai' or 'There is silence on Manipur'. Before walking out, Congress leader Gaurav Gogoi said that the opposition was doing so as the prestige and the honour of the House was being violated by suspending opposition members.
(The above story first appeared on LatestLY on Aug 11, 2023 04:20 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).