During the Monsoon session’s final day on Friday, the Parliament passed amendments to the Central and Integrated GST laws, endorsing the imposition of a 28 percent tax on the complete face value of bets in online gaming, casinos, and horse race clubs. The Rajya Sabha swiftly approved the proposed legislations through a voice vote, refraining from any discussions. Earlier in the day, the Lok Sabha greenlit both money bills, namely The Central Goods and Services Tax (Amendment) Bill, 2023, and The Integrated Goods and Services Tax (Amendment) Bill, 2023. Union Finance Minister Nirmala Sitharaman introduced these bills in both Houses. The amendments, which were sanctioned by the GST Council in the preceding week, involve incorporating clauses in the Schedule III of the CGST Act, 2017, for clearer taxation guidelines on casino, horse racing, and online gaming supplies. Additionally, an amendment in the IGST Act mandates offshore entities providing online money gaming to acquire GST registration in India, with non-compliance leading to overseas online gaming platform access restrictions. States are now required to pass corresponding amendments in their state GST laws in their respective assemblies.
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