The 51st meeting of the Goods and Services Tax (GST) Council was conducted on August 2nd 2023 through video conferencing in New Delhi, with Nirmala Sitharaman, the union Finance Minister, presiding over the session along with Revenue Secretary Sanjay Malhotra, Union Minister of State for Finance Pankaj Chaudary and other state ministers too.
The main topics discussed during the 51st Council meeting included the implementation of decisions made in the previous meeting regarding online gaming and the enabling provisions in the GST law, as well as the subsequent implementation of these decisions by the states.
The Finance Minister assured that the new GST rates for online gaming will be implemented promptly based on the requests of states such as Uttar Pradesh, Maharashtra, and Karnataka. However, due to concerns expressed by states like Goa and Sikkim regarding Casinos, the GST council will review the implementation after six months.
Further clarified that, if the GST rate implements on October 1st, 2023, the 6 months starts from the same date and after the concerned period, the same will be reviewed. There is no change in the GST rates.
The council also approved the definition of online gaming as those ‘offered on internet or e-network including online money gaming’ and differentiated the meaning of Online gaming and online money gaming. Also, approved the meaning of actionable claims.
The Revenue Secretary has made it clear that offshore companies must register, and if they fail to comply, appropriate actions will be taken against them under the IT Act.
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