The Bihar government on Monday tabled an amendment bill in the assembly to replace an ordinance to facilitate the imposition of 28 per cent GST on online gaming in the state.
The additional tax on online gaming, racecourses and casinos has been in force in the state since October 1, following the Centre's notification in this regard in September.
State Finance Minister Vijay Kumar Choudhary tabled the Bihar Goods and Services Tax (Second Amendment) Bill-2023 on Monday, the first day of the winter session of the state legislature.
The Union Ministry of Finance issued notifications for implementing 28 per cent uniform GST on online money games, casinos, horse racing, betting, gambling and lottery in September. The new tax regime has been in force in the state since October 1. Now the promulgated ordinance will be replaced by the amendment bill,” Choudhary told PTI.
The state would certainly get additional revenue following the imposition of the higher tax rate, he said.
The Goods and Services Tax (GST) Council, in its meeting in August, had decided to stick to its earlier decision to levy a 28 per cent tax on the total face value of the bets placed on online gaming, casinos and horse racing.
The council had said a 28 per cent GST would apply from October 1. The online gaming industry was earlier shelling out an 18 per cent tax on gross gaming revenue or GGR.
GGR is the difference between the money wagered by players and the amount paid as winnings.
A 28 per cent tax will have to be paid on the amount deposited by a player in a game. Suppose a player puts in Rs 2,000 in a game, he or she will have to pay a GST of 28 per cent, amounting to Rs 560,” the minister said.
Source: Business Standard
https://www.business-standard.com/india-news/bihar-tables-bill-in-assembly-to-replace-ordinance-on-28-gst-on-e-gaming-123110600875_1.html
https://www.business-standard.com/india-news/bihar-tables-bill-in-assembly-to-replace-ordinance-on-28-gst-on-e-gaming-123110600875_1.html
