Saturday, August 13, 2022

Gambling services to face highest GST bracket


Gambling operators will soon have to succumb to hefty taxes following a ruling which will see all gambling businesses placed under India’s highest tax bracket, local media reports.

According to Finance Minister Arun Jaitley, all services related to gambling, race club betting and cinema halls will be taxed at 28 percent under the new rules.

The two-day GST Council meeting was held on Thursday and Friday, involving ministers and officials from 29 states and union territories.

Thousands of goods were sorted under four GST slabs: 5, 12, 18 and 28 percent.

“GST in relation to the service sector was completely adopted in today’s meeting,” Jaitley told local reporters after the conclusion of the two-day GST council meeting in Srinagar.

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