The Group of Ministers (GOM) on racetracks, casinos, and online gaming will convene on June 12, to conclude its report on the best ways to tax these activities that resemble gambling.
The Group of Ministers comprising the finance ministers of the Central government and the states, was tasked with reviewing the report and setting a deadline for its submission on July 15.
Suresh Kumar Khanna, the finance minister for Uttar Pradesh and a representative of the "Group of Ministers" announced that the panel will convene on July 12, while speaking at a GST conference hosted by FICCI.
In its report, the ministers panel emphasized that since horse racing, internet gaming, and casinos all fall under the category of betting and gambling, a GST of 28% should be levied on them.
Goa Industries Minister Mauvin Godinho emphasised the need for more explanation and comprehension of the reasons why casinos demand a distinct tax approach than horse racing and online gambling. The Council then allowed time for more consultations and ordered the GoM to provide a final report by July 15.
Online gaming should be taxed at the entire value of the consideration, including the contest entry fee paid by the player upon participation in the game, according to a recommendation made by the Group of Ministers, led by Meghalaya Chief Minister Conrad Sangma. The GoM has proposed that GST be applied to the whole value of bets placed with bookmakers and pooled in totalisators at racetracks.
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