New Delhi, India – The Goods and Services Tax (GST) Council is not expected to address the report presented by the group of ministers (GoM) on taxing online gaming at its upcoming meeting, according to a senior finance ministry official. The matter of online gaming taxation requires extensive discussions and the GST Council will not be able to tackle it at this time.
The GoM had presented a report on the taxation of online gaming, which has seen a surge in popularity in recent years. The report suggested ways to tax online gaming, which is currently not taxed under the GST regime.
However, the senior finance ministry official stated that the GST Council has a long agenda for its upcoming meeting and it is not possible to discuss the online gaming taxation report in detail. The matter will require further discussions and analysis before a decision can be made.
It is important to note that the GST Council, which is responsible for making decisions on indirect taxes in India, has been considering the matter of taxing online gaming for some time now. The GoM’s report is a step towards finding a solution to the taxation of this rapidly growing industry.
In conclusion, the GST Council’s upcoming meeting will not address the matter of online gaming taxation. However, the GoM’s report is a positive development in finding a solution for the taxation of the industry. The finance ministry official stated that the GST Council will consider the matter at a later date when it has more time for detailed discussions.
