On the 2nd of May, the Group of Ministers talked about different topics like possible GST rates and technicalities. One of these topics is GST on Online Gaming, casinos, and other things like races. In this blog post, you will read about their latest statement on the 28% GST on Online Gaming.
According to the latest reports, the Group of Ministers agrees to levy a flat 28% GST on gaming. Furthermore, this time in the meeting the topic of GST on Video Games and gambling is intense.
The Meghalaya Chief Minister Conrad K. Sangma says that most of the things are settled in the meeting. Also, soon the latest prices and GST rates are going to apply to all items – old and new like gaming.
Financial Ministers agree to Levy Flat 28% GST Slab on Online Gaming, Casinos, and Races
The GoM, Conrad K. Sangma says that in this meeting the topic of online gaming is one the major topics. Moreover, they also discussed all possible issues of Online Gaming, Casinos, and Races.
The main discussion point of the Online Gaming topic is what type of GST is suitable for gaming. For example, they can go with the common GST rates but they also have an option for special GST rates, especially for Gaming Category.
There is an official statement by Conrad K. Sangma on the gaming topic: “Governments, several industries, stakeholders and the societies are to be involved in the operation of the casinos, racecourses, and online gaming. Keeping all aspects in mind and considering the views of all stakeholders, we would decide the rates and other related matters,”
Impact of GST on the Indian Gaming Community
Well, there is still not any confirmation about the GST on gaming. Even if there is a GST then it can be common, special, or anything. For the sake of this blog post let’s assume there is a GST because most of the Ministers agree.
So, the first thing that will happen in the future with gaming is that players need to pay high prices. For example, games on Steam, Google Play Store, Apple App Store, and Console will come with a GST price.
Other things which are going to affect gaming are in-game items the games. There are many in-game items like BattlePass, in-game currency, and other cosmetics like skins. It’s going to become quite costly to play online games in India due to new GST rules.
READ | Indian Gaming Industry To Become $5 Billion Economy In Coming Years: Reports
