In a major move, India is prepared to implement a 28 per cent Goods and Services Tax (GST) rate on online gaming from October 1.
28% GST On Online Gaming From October 1
The announcement was made by Central Bord of Indirect Taxes and Customs (CBIC) chairperson Sanjay Agarwal on September 28.
The announcement of India’s move to tax online gaming comes nearly two months after the Lok Sabha had passed amendments to two GST laws with a voice vote and minimal debate.
CBIC chairperson Sanjay Agarwal said, “We are ready to implement a 28 per cent GST rate on online gaming from October 1 with the consent of all the states. The law for GST rate on online gaming will have to be passed by the assembly of states. Show cause notices to some online gaming companies are legal process.”