The Central Goods and Services Tax (Amendment) Act, 2023, published on 18th August, 2023, introduces new definitions for "online gaming" and "online money gaming" in CGST Act, 2017.
"Online gaming" is defined as the offering of a game on the internet or an electronic network. On the other hand, "online money gaming" is defined as online gaming in which players pay or deposit money or money's worth, including virtual digital assets.
Moreover, the concept of "specified actionable claims" is introduced, encompassing claims related to betting, casinos, gambling, horse racing, lottery, and online money gaming. The Act deems those who organize or arrange the supply of such claims as suppliers liable to pay tax.
Additionally, the scope of taxable services is expanded to include online money gaming supplied from outside India to a person in India.
These changes reflect the evolving landscape of digital services and aim to ensure appropriate regulation and taxation under the Central Goods and Services Tax Act.
You can download the Act text here.
