India: GoM to submit final report on gambling taxes in 7-10 days
The Group of Ministers (GoM) stresses that it is taking the opinion of stakeholders in account before submitting its final report.
India.- The Group of Ministers (GoM) weighing up the introduction of a 28 per cent Goods and Services Tax (GST) for online gaming, racecourses, and casinos in India is expected to submit its final report in 7-10 days. Meghalaya chief minister Conrad Sangma, who is heading the group, said the report was being drafted “after taking the opinion of stakeholders and after successive meetings to seek the suggestions of all members.”
Casinos, horse racing and online non-gambling games currently pay 18 per cent of the cash collected per game. The proposed 28 per cent rate would apply to online games involving wagering or gambling. Sangma said that the three industries require separate tax regimes tailored to their needs.
According to Live Mint, the All India Gaming Federation CEO Roland Landers said that ministers had recognised the constitutional and legal differences and nuances of online gambling. He said industry associations are very hopeful that the government will also make progressive and constitutional recommendations on interest rates and valuations for the industry.
In July, the GoM met with the Bangalore Turf Club to discuss race-related topics, including GST. It also visited casinos in Goa to gain firsthand experience of the industry.
