- On August 2, 2023, the 51st meeting of the GST Council was held via video conferencing in New Delhi, with Nirmala Sitharaman presiding over the session along with other officials.
- The council approved various definitions related to online gaming and online money gaming, including the inclusion of online money gaming in the definition of online gaming and the definition of virtual digital assets.
- The council also approved amendments to the CGST and SGST Acts regarding online gaming taxes and the insertion of online money gaming supplied by entities located outside taxable territory under IGST ambit.
- The council differentiated between online gaming and online money gaming and approved proposals to block non-compliant online gaming apps/platforms and take action against offshore gaming companies that do not comply with provisions.
- Notifications will be provided on the place of supply if required.
Source Taxscan
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