Menu
Gst On betting services
A party has giving services like betting service i.e dream 11,my 11 is this kind of service gst is applicable ??
Replies (3)
Courts are of the opinion that these games involves skill therefore it is not betting.
But how much skill is not betting it's not yet litigated.
Otherwise from that GST is applicable on betting, lottery and gambling.
But how much skill is not betting it's not yet litigated.
Otherwise from that GST is applicable on betting, lottery and gambling.
What is gst rate on gambling?
GST is computed on gross gaming value or stake instead of the gross gaming revenue (total collection minus winnings distributed) or service fee. Hence, a 28% GST is charged and collected on betting and gambling under the HSN code 999692 on the total stake or bet value.
GST intelligence wing recently issued a show cause notice to a Bengaluru-based online gaming portal GamesKraft Technologies Pvt Ltd demanding ₹21,000 crore in taxes, interest and penalty.
Recent Topics :
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
- Free CA Foundation Study Material - PYQs with Sugg
- INCOME TAX
- Moving from old to new tax regime after notice
- Need urgent help on notice
- ITR-3 - F&O Loss adjusted against business inc
- Error - Blank Rows in Schedule SI (ITR-2)
Related Topics :
CAclubindia
