Gaming
Manthra Koliyer By Manthra KoliyerOn 26 May, 2021
By Manthra KoliyerOn 26 May, 2021
State Ministers To Streamline Valuation Of Services By Real Money Gaming Operators
The state government of Gujarat has convened a seven-member panel of state ministers for better valuation of service provided by casinos, online gaming portals, and racecourses for imposing goods and services tax (GST).
The panel, set-up by Gujarat’s Deputy Chief Minister, Nitin Patel will also look into changes that are required in the legal provision to get a better valuation from these services. In particular, the group of ministers (GoM) will examine the issue of valuation of services provided by casinos, racecourses, and online gaming portals and taxability of certain transactions in a casino, concerning the current legal provisions and orders of courts.
Apart from this, the committee will also take into account the valuation of other services like the lottery. The members of the panel are Gujarat Deputy Chief Minister Nitin Patel, Maharashtra Deputy Chief Minister, Ajit Pawar, Goa Transport Minister, Mauvin Godinho, Karnataka Home Minister, Basavaraj Bommai, Tamil Nadu Finance Minister, P Thiagarajan, West Bengal Finance Minister, Amit Mitra and Arunachal Pradesh Deputy Chief Minister, Chowna Mein.
ALSO READ: What Are The Implications Of GST On Online Gaming
The panel is expected to submit a report to the GST council within six months. The GST council is chaired by the Union Finance Minister, Nirmala Sitharaman, and comprises state finance ministers.
Rajat Mohan, The Associate Senior Partner of AMRG, said, “During the pandemic, the online gaming sector and the casinos have seen a massive user traction and flow of investments which poses a big challenge for the entire real money gaming (RMG) industry. In India, online gaming companies are in nascent stages and this has led to multiple unresolved issues around taxation and valuation.”
He further added, “Now that a GoM has been formed, the uncertainty surrounding the valuation of services like casinos, online gaming companies, and racecourses can be resolved.”
Currently, the services of casinos, online gaming, and horse racing attract 18% GST.
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Manthra Koliyer is a writer at Gutshot Magazine. She has an affinity for seeing the world through people’s eyes. With a bubbly fun personality, you can always catch her chatting with anyone she comes across. Holding an English Literature degree from Wilson College, Mumbai, and a Post Graduate Diploma in Journalism from Asian College of Journalism, this pop culture fanatic is ready to take on the world with a pen, paper, and microphone. She also actively works on her personal blog called namasteyconvict.blogspot.com, where for a moment she lets you into her drama-filled world.
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