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As per recent media reports after the 47th GST Council meeting, the GoM has recommended a rate of 28% on the online gaming services. However, there is no clarity on the valuation for levying such rate of tax. At the outset, we are extremely thankful to the Hon’ble Finance Minister, the GST Council, and the Group of Ministers (GoM) on Casinos, Race Courses and Online Gaming to deliberate and re-examine the issue of rate and valuation of charging GST on the online gaming industry to keep the industry viable.
In this regard, representations from various online gaming companies are attached herewith for your perusal with a plea to keep the tax base as gross gaming revenue (i.e. platform fees) which shall be in line with the international practice. A detailed representation with the basis for the valuation and impact on the industry as a whole is attached herewith for your records and reference.
