NEW DELHI: Online poker and fantasy games is set to get costly as a group of state finance ministers set up to explore the quantum of GST and mode of taxation on casinos, racecourses, and online gaming has unanimously proposed a flat 28 per cent goods and services tax (GST) on these activities. The group is said to have proposed that casinos be brought under the 28% tax slab while the tax will be only on the amount paid at the time of buying the betting instruments at entry and not on every betting transaction.
The panel of ministers, which met last week, also decided that the tax will be levied on the entire “face value” or “bet amount” and not on the total transaction value. Total transaction value includes the prize money, or the net commissions (revenues) that accrue to gaming firms. These recommendations will be sent to the Goods & Services Tax (GST) council for approval.
