Finance Minister Nirmala Sitharaman on Tuesday said the GST Council is deliberating on taxation policy for online gaming and exuded confidence that the sector will attract investment once it is finalised. She was responding to a question from a Korean gaming company Krafton on what are India's plans to attract foreign investment in gaming companies.
The minister said the discussion is going on at the ministerial level in the GST Council into various aspects of online gaming, including taxation and regulation.
“Once the policy certainty arrives, taxation becomes more … clear, it will attract investors,” Sitharaman said while addressing the Indian diaspora in Seoul.
The vexed issue of levying Goods and Services Tax (GST) on online games has been hanging fire for nearly two years now with many states pitching for a lower tax rate on those online games which require skill. They are of the opinion that games of skill should not be treated at par with games of chance.
A final decision on the taxation on online gaming is expected to be taken by the GST Council in its next meeting, which is likely either this month or in June.
https://economictimes.indiatimes.com/news/economy/policy/online-gaming-to-attract-investment-once-tax-policy-is-finalised-nirmala-sitharaman/articleshow/99943221.cms
