28% GST to be levied on full value of online gaming, horse racing, casinos

In a setback to online gaming firms, the GST Council on Tuesday determined that there’ll be a 28 per cent GST levy on full value of gaming, horse racing, and casinos.

Among different points, the Council accepted exemption of GST on import of most cancers drug Dinutuximab and on Food for Special Medical Purposes (FSMP) which might be used within the remedy of uncommon illnesses.

The GST Council, which held its fiftieth assembly below the chairmanship of Union Finance Minister Nirmala Sitharaman, determined to take away the excellence of sport of ability and likelihood in case of online gaming. The date for 28 per cent GST levy will change into efficient after the modification in GST legislation, West Bengal Finance Minister Chandrima Bhattacharya advised reporters after the assembly.

Maharashtra’s Forest, Culture and Fisheries minister Sudhir Mungantiwar advised reporters that the GST council additionally accepted organising of appellate tribunals.

(With inputs from IANS)