Nirmala Sitharaman: Finance Minister Nirmala Sitharaman said on Monday after the 54th meeting of the GST Council that the government has benefited a lot from imposing GST on online gaming. She said that 28 percent tax was imposed on online gaming from October 1, 2023. Since then, GST collection has increased by 412 percent in 6 months.
Revenue increased from online gaming, casinos and horse racing
While informing the media about the decisions taken in the GST Council meeting, Nirmala Sitharaman said that the report of the 6 months after imposing GST on online gaming, casino and horse race was discussed. In just six months, our revenue has increased by 412 percent to Rs 6909 crore. Earlier this figure was Rs 1,349 crore.
The confusion between skill games and chance games was removed
Before October 1, 2023, many online gaming companies were not paying 28 percent GST, arguing that there was no separate tax for skill games and chance games. After this, the central government made changes in the GST Act. The Finance Minister said that in 6 months, the revenue from casinos has increased by 30 percent to Rs 214 crore. It was Rs 164.6 crore earlier.
GST cut on cancer medicines, snacks and helicopter service
The GST Council has also reduced GST on cancer medicines, snacks and helicopter service for religious travel. Apart from this, a Group of Ministers has been formed for GST on Health Insurance (GOM). He said that the GOM has submitted its report on real estate. Revenue Secretary Sanjay Malhotra said that GST on snacks has now been reduced to 12%. Apart from this, 5% GST will be paid on cancer medicines and those who go on religious journey will have to pay only 5% GST on taking helicopter service on seat sharing basis. This will provide relief to the devotees going to pilgrimage places like Kedarnath, Badrinath and Vaishnodevi.
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