GST Meeting: Online gaming companies unlikely to get relief on 28%, other issues
Online gaming companies are unlikely to get any relief from the GST Council in its meeting on Monday. Along with casinos, horse racing clubs the online gaming companies have to watch out for Tuesday as the Supreme Court is scheduled to hear a bunch of 44 petitions of online gaming companies, casinos and turf clubs related with GST demands.
Meanwhile, the Council is expected to consider many other issues including rejig of GST rates on insurance premia and cross border transactions between companies having headquarter here and branches abroad or vice versa.
The online gaming companies are agitating against 28 per cent GST along with retrospective tax notices. Last December, the Finance Ministry had informed the Rajya Sabha that 71 show cause notices involving GST to the tune of over Rs.1.12-lakh crore have been issued to online gaming companies during financial years 2022-23 and 2023-24 (up to October 2023). The companies are expecting that the Council will take a call on these issues.
