Satta Matka Online GST: Government will collect tax considering betting and online gaming as a game of skill and luck

[ad_1]

Satta Matka Online Game GST News: The government can impose GST at the rate of 28% on betting (Satta Matka) or gambling (Gambling). At the same time, online gaming with skills can be taxed at less than 18%. For this, the Finance Ministry is considering classifying online gaming into the categories of Game of Skill and Game of Luck and levying GST (Goods & Services Tax) at different rates. The GST Council will take a final decision on this in its meeting to be held in May or June.

The Finance Ministry is mulling to classify online gaming as games of skill and luck and levy Goods and Services Tax (GST) at different rates. An officer gave this information. Such online games where the decision of winning or losing depends on a certain result or is in the nature of betting or gambling, GST will be levied at the rate of 28 percent.

Online games of skill may be taxed as low as 18 per cent. The final decision on taxation of online gaming will be taken by the GST Council in its next meeting to be held in May or June. Not all online games are based on luck, or are in the nature of betting or gambling, the official told reporters here. The Finance Ministry will place its opinion before the Council. He said that a distinction has to be made between skill-based and luck-based games.

For your information, let us tell you that at present 18 percent GST is levied on online gaming. The tax is levied on the total fee charged by the online gaming portal. According to a PTI-language report, a group of ministers headed by Meghalaya Chief Minister Conrad Sangma submitted a report on GST on online gaming to Finance Minister Nirmala Sitharaman in December last year. However, the final decision in this regard has to be taken by the GST Council.

[ad_2]

Source link