📣 Big News for the Online Gaming Industry! The government is contemplating a significant relief measure for the online gaming industry. It is considering exempting them from paying the GST at the rate of 28% on the full face value of bets for the period before 01-Oct-23.

This could mean the annulment of the highly contentious “retrospective levy” of the tax, irrespective of the outcome of the ongoing Supreme Court case.

As of now, the matter is with the Supreme Court, and the government is awaiting the apex court’s ruling. Post-judgement, the government plans to take appropriate steps. However, this would require a decision from the GST Council.

In February, Revenue Secretary Sanjay Malhotra stated, “The matter (28% GST of full face value of bets for pre-October 1 period) is in the court.

The courts and, if need be, the GST Council will decide this matter. The judiciary and the council always take a prudent, balanced view of issues.” #GST #OnlineGaming #TaxRelief #India