GST Council to Deliberate on Online Gaming Taxation and Address Fake Registrations
The GST Council, chaired by the Union Finance Minister, will review the status report on online gaming taxation and ongoing actions against fake Goods and Services Tax (GST) registrations. The session will also address amendments from the Finance Act, 2024, and discuss proposals on rate rationalisation and real estate.
- Country:
- India
In its upcoming session next week, the GST Council will deliberate on the status report concerning the taxation of online gaming and the ongoing progress against fake Goods and Services Tax (GST) registrations. Sources indicate that the Council is set to clear notifications effectuating amendments in the GST law from the Finance Act, 2024.
Chaired by the Union Finance Minister, the Council, in its 54th meeting on September 9, will also review reports by two Groups of Ministers (GoM): one focused on rate rationalisation and the other on real estate. Notably, a 'status report' detailing GST revenue collections from the online gaming sector will be presented.
The GST Council will be briefed on the comprehensive drive against fake GST registrations, revealing that the initiative between August 16 and October 15, 2024, discovered numerous non-existent entities and significant tax evasion. The Council will additionally discuss amnesty schemes and other taxpayer-friendly measures passed in its previous June meeting.
(With inputs from agencies.)
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