Approval granted by India's GST Council for a rise in gaming taxation
The Goods and Services Tax (GST) Council in India has approved a significant tax reform, increasing the tax rate on gaming, betting, casinos, gambling, horse racing, lottery, and online money gaming from 28% to 40%. The decision was made on a Wednesday and is set to take effect on September 22.
This tax hike is part of the government's proposed tax reforms, aimed at offsetting tax cuts across a range of consumer goods and medicines in India. Prime Minister Narendra Modi has welcomed the Council's decision, expressing belief that these reforms will improve the lives of Indian citizens and ensure ease of doing business for all, particularly small traders and businesses.
The GST Council's decision also includes the approval of a bill to outlaw real-money online gambling in India. As a result, Flutter Entertainment has shut down its Junglee real-money gaming site in the country.
It is important to note that this is not the first tax reform approved by the GST Council in India. The Council has a history of implementing such reforms to align the tax structure with the government's economic goals.
Despite extensive search results, there is no information available about a Minister President approving the tax reform specifically for games including betting, casinos, gambling, horse racing, lottery, and online gambling.
The Prime Minister has stated that these tax reforms are crucial steps towards a more transparent and efficient tax system in India, contributing to the overall economic growth and development of the nation.
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