Something terribly wrong with govt’s tax theology: Cong
Congress on Thursday said that all gaming is not gambling and something is terribly wrong with the government’s tax theology and its much touted focus on innovation and startups.
Congress on Thursday said that all gaming is not gambling and something is terribly wrong with the government’s tax theology and its much touted focus on innovation and startups.
Taking a swipe at the government, Congress spokesperson and Lok Sabha MP Manish Tewari said, “All gaming is not gambling. First the government killed the crypto currency ecosystem by imposing a 1 per cent TDS and 30 per cent Tax on gains-charged as income from other sources.
“It ensured that the crypto Eco system moved out of India & now it is hell bent on destroying the online gaming industry by imposing 28 per cent GST,” the former Union minister said.
“Something is terribly wrong with the Government’s Tax theology and it’s much touted focus on innovation and start up’s,” Tewari added.
His remarks came a day after the GST Council on Wednesday decided to implement the 28 per cent levy on online gaming and casinos, most likely from October 1 onwards.
It was further decided by the council that once the GST levy becomes applicable on October 1, it will be reviewed after six months, and if need arises, changes may be made in it.
The decision was taken during the GST council meeting, which was held virtually by Finance Minister Nirmala Sitharaman.
In other words, the GST Council maintained status quo on it’s July 11 decision to levy 28 per cent GST on online gaming and casinos on face value.
There was near unanimity on levying 28 per cent GST on online gaming and racing, Sitharaman said after the meeting, while speaking to reporters.
(IANS)