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Business Legal & Regulatory

Overview of India Fantasy Sports Industry, its Legality & GST

India fantasy sports industry has over sixty platforms, at present. These platforms are catering to about 20 million fantasy sports players in India, as per an IFSG-KPMG report. By the end of 2019, over 100 million sports fans are expected to take to one or more fantasy sports apps or platforms.  As per the fantasy […]

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Legal & Regulatory

GST Council seeks Attorney General’s opinion on dual tax rate for lotteries

The Goods and Services Tax Council (GST) in its 35th meeting held on 21st June, 2019 once again failed to arrive at a consensus on whether a standard rate of GST should be charged on state-run and state-sponsored lotteries and it was decided that the Attorney General of India should give his opinion on whether […]

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Legal & Regulatory

Bombay HC rules fantasy sports to be a game of skill, approves Dream11’s format and manner of payment of GST

A division bench of the Bombay High Court comprising of Justices Bharati H. Dangre and Ranjit More in a recent Public Interest Litigation (PIL) filed by one Gurdeep Singh Sachar, ruled that the daily fantasy sports games offered by Dream11 depends upon the user’s skill and judgment and is undoubtedly a game of skill. The […]

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Business

Kerala assembly passes resolution against uniform GST for lotteries, deadlock in GoM over lottery tax rate

The Kerala legislative assembly passed a unanimous resolution urging the Central Government to withdraw the move to bring uniform Goods and Services Tax (GST) rate on state-run lottery and other state lotteries. As per news reports, the legislative assembly passed the resolution moved by state Finance Minister Thomas Isaac after a discussion over it on […]

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Business Legal & Regulatory

Decoding the valuation of services provided by casinos under GST law

This is a guest post by Pallav Pradyumn Narang, a New Delhi-based Tax and Regulatory Partner at CNK, an accounting, tax and advisory firm. Recent actions of the department against one of the larger entities in the casino space have brought the issue of valuation of services under the Goods and Services Tax (GST) regime […]

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Business Gaming

Online skill gaming companies face questions about manner of GST payments

As per a report in the Economic Times today,  the tax department has started questioning some of the leading online  skill gaming companies, including Dream11, to ascertain if there is a revenue leakage on account of the methodology used by these platforms to calculate and pay Goods and Services Tax (GST). The indirect tax department is […]

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Gaming

Turf authorities petition Piyush Goyal to reduce GST on horse racing

The Turf Authorities of India (TAI), an apex body of the six racing clubs in India made a representation to Union Minister Piyush Goyal on 14th February, 2019 requesting for a change in the Goods and Services Tax (GST) rate that is charged on bets taken by race clubs and bookmakers. The conglomeration of turf […]

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Business

GoM recommends uniform GST rate for lotteries, GST Council to discuss on 24th February

An eight member ministerial panel appointed by the Goods and Services Tax Council recommended that there should be a uniform rate of taxation for lotteries, and the tax rate should be either 18 percent or 28 percent. The Group of Ministers (GoM) panel comprising of Maharashtra Finance Minister Sudhir Mugantiwar (chairman); West Bengal Finance Minister […]

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Business

Government notifies 8-member committee to decide lottery GST rates; panel to submit report by next GST Council meeting

As reported by us earlier, the GST Council in its meeting on 10th January has recommended the formation of a Group of Ministers (GoM) panel to look into the differential GST rates on lottery tickets and tax issues arising from lottery sales. According to media reports, the central government has now issued a statement that […]

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Business

No decision taken on GST rate reduction on lotteries; matter referred to GoM

The Goods and Services Tax Council could not take a decision on rationalisation or reduction of tax on state lotteries marketed and sold through private distributors. The GST council, which was expected to discuss reduction of the 28% GST levied on the face value of lottery tickets sold by private companies, could not come to […]