No tweaks to online gaming GST till Supreme Court rules

Further hearings on this issue are now expected once the top court resumes sittings in July

range from ₹22,000 crore to ₹38,000 crore.

The government will continue to carry out switching of securities to smoothen the redemption profile and will have the right to exercise greenshoe option to retain an additional subscription of up to ₹2,000 crore against each of the securities indicated in the auction notifications.

The weekly borrowing through issuance of treasury bills in the first quarter of FY25 is expected to be ₹27,000 crore for the first seven auctions and ₹22,000 crore for the subsequent six. The Centre will issue 91-day treasury bills worth ₹1.44 trillion, 182-day T-bills worth ₹79,000 crore, and 364-day T-bills worth ₹98,000 crore.

“To take care of temporary mismatches in government accounts, the Reserve Bank of India has fixed the Ways and Mean Advances (WMA) limit for H1 of FY 2024-25 at ₹1.50 lakh crore,” the statement said.

The federal indirect tax body is unlikely to make any changes to the 28% goods and services tax (GST) regime on online money gaming until the Supreme Court gives its final order on a bunch of tax disputes for the period prior to its introduction last October, a person informed about the development said.

As per the decisions of the 51st GST Council meeting last August, ministers were to review the implementation of the tax regime for the online gaming industry after six months of its implementation. This period ends in March but, given that a model code of conduct is now in place in view of the Lok Sabha elections, this review can only happen after the polls. However, a review does not necessarily mean tweaks to the tax regime.

“No further change can be made to the tax regime for online money gaming as the matter is sub-judice. One has to wait for the Supreme Court’s views on the matter,” said the person who is informed about the current thinking among central and state policy makers.

The review was sought by smaller states like Goa and Sikkim.

Experts said that the interim period till the apex court ruling comes will be crucial for gaming companies.

AS per the last decisions, ministers were to review the implementation after six months

AFP The apex court had in September stayed a favourable order a gaming company had received from the Karnataka High Court on the 28% GST.

MINT The finance ministry said govt has finalized its borrowing programme for H1 of FY25.