Here is what sources tell me about 51st GST Council agenda
GST Council on 2nd Aug likely to approve clear definition of actionable claims
Council likely to clarify definition of online gaming
Online gaming definition likely to include “online gaming means offering of a game on the internet or an electronic network and includes online money gaming.”
Online money gaming definition will include games based on both skill, chance
Council to include new definition of “online money gaming”
Online money gaming likely to mean games where players pay or deposit money or money’s worth, including virtual digital assets, in the expectation of winning money
Council proposes to add a New provision for inserting definition of “virtual digital asset”
“virtual digital asset” shall have the same meaning as considered in Income Tax Act
Council likely to include a new provision to include online money gaming supplied by a person located outside the taxable territory/ overseas online gaming apps & platforms to be taxed under the ambit of IGST
Council proposes to add a New provision for inserting definition of “virtual digital asset”
“virtual digital asset” shall have the same meaning as considered in Income Tax Act
Council likely to include a new provision to include online money gaming supplied by a person located outside the taxable territory/ overseas online gaming apps & platforms to be taxed under the ambit of IGST
Council to include “specified actionable claim”:
(i) betting (ii) casinos
(iii) gambling
(iv) horse racing
(v) lottery
(vi) online money gaming
Council likely to approve to block all the online gaming apps/platforms not complying with tax rules
Council likely to deliberate on levying GST on “total amount paid to or deposited with the supplier by way of money or money’s worth, including virtual digital assets, by or on behalf of the player” for online gaming
For Casinos, Council to deliberate to levy GST on “total amount paid by or on behalf of the player for purchase of the tokens, chips, coins or tickets”