financetom
Economy
financetom
/
Economy
/
“Will request GST council to reconsider tax on online gaming,” Rajeev Chandrasekhar at CNN-News18 Town Hall
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
“Will request GST council to reconsider tax on online gaming,” Rajeev Chandrasekhar at CNN-News18 Town Hall
Jul 17, 2023 11:46 AM

Share Market Live

NSE

Amid the criticism over the 28% goods and services (GST) tax on online gaming, Minister of State for Electronics & Information Technology, Rajeev Chandrasekhar said that he would “go back to the GST council and may be request it for consideration on the new regulatory framework”. He was speaking in the inaugural session at CNN-News18 Town Hall’s Delhi edition.

“GST Council is not the Government of India. The council is represented by all state governments. It is a federal organization. State governments and finance ministers have come together and created a GST framework. That is a consequence of three years of their work. While we may quibble with the findings, we have to recognize the process of creating a framework, which has started in January 2023,” he said.

The GST Council on July 11 decided to impose a 28% tax on the turnover of online gaming companies, horse racing and casinos.

“We are only in the nascent stages of creating a sustainable, permissible online gaming framework. It is better to slowly progress and evolve these frameworks. Prime Minister Narendra Modi has said that in digital space do everything for the next decade… It is better to do it right than to do it fast,” the minister said.

Centred around the theme, ‘India's road to 2024 Elections,’ The Delhi chapter of ‘CNN-News18 Town Hall’ is aimed at facilitating discussions with policy makers and opinion leaders to understand how political parties plan to captivate the attention of the voters. The discussions revolve around various topics such as policies, manifestos, and strategies employed by each party.

(Edited by : Keshav Singh Chundawat)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US Dollar Falls Early Tuesday Ahead of Redbook, San Francisco Fed's Daly
US Dollar Falls Early Tuesday Ahead of Redbook, San Francisco Fed's Daly
Apr 8, 2025
07:58 AM EDT, 04/08/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Tuesday ahead of another quiet economic calendar, with the Redbook same-store sales at 8:55 am ET and an appearance by San Francisco Fed President Mary Daly at 2:00 pm ET. Earlier Tuesday, the National Federation of Independent Business said its monthly sentiment reading...
US bank earnings likely to be overshadowed by recession concerns
US bank earnings likely to be overshadowed by recession concerns
Apr 8, 2025
NEW YORK (Reuters) - As U.S. lenders begin to report earnings this week, investors' focus will likely shift from profits to bank bosses' remarks on the economy after President Donald Trump unveiled steep tariffs and triggered a market selloff. Mike Mayo, an analyst at Wells Fargo ( WFC ), said the largest effect of the tariffs in the coming quarters...
Chile's Antofagasta expects copper demand to defy tariff turmoil
Chile's Antofagasta expects copper demand to defy tariff turmoil
Apr 8, 2025
* Antofagasta ( ANFGF ) says Trump's policies could help mining investment * Copper supply likely to be supported by demand from AI and other technology * Antofagasta ( ANFGF ) says Chile well placed to avoid copper tariffs By Fabian Cambero and Daina Beth Solomon SANTIAGO, April 8 (Reuters) - The trade war stirred by U.S. tariffs raises a...
China tariff escalation a big mistake, US Treasury Secretary says
China tariff escalation a big mistake, US Treasury Secretary says
Apr 8, 2025
WASHINGTON (Reuters) - U.S. tariff negotiations are the result of calls from other countries not sliding financial markets and China's escalation is a big mistake, U.S. Treasury Secretary Scott Bessent said on Tuesday. I think it was a big mistake, this Chinese escalation, Bessent said in an interview with CNBC. We are the deficit country. So what do we lose...
Copyright 2023-2026 - www.financetom.com All Rights Reserved