The Indian Government has recently announced a 28% GST on online games, casinos, and horse racing. This decision was made by the GST Council during its 50th meeting on July 11, 2023. The tax will be levied on the bets placed in online gaming, bets placed in casinos, and bets placed in horse racing. This implementation of 28% GST rate will be high tension for whole gaming industry, many online gaming founder and CEO has tweeted about the Indian Government decision.
Finance Minister Nirmala Sitharaman announced a 28% GST for online gaming, horse racing, and casinos. Recently the Government implemented 30% TDS on net winnings for online games for all the users. Now the Indian Government has given shocking news of 28% GST on all the online gaming industry.
There is no impact of 28% GST for online gamers like casino gamers, poker players, or rummy players. The users have to pay 30% TDS on their winnings, but now all the gaming industry can be charged more platform or pool fees due to increasing 28% GST.