8 in 10 Indians want 28% or higher GST on casinos, online games and horse races

• About 60% of citizens want the GST rate on cryptocurrencies to be 28% or higher.
• Eight in ten Indians are in favour of imposing 28% or higher GST on online games, casinos and horse racing.
• 8 in 10 Indians want 28% of higher GST on casinos, online games and horse races

Six in ten Indians are in favour of keeping cryptocurrencies under the 28% or higher goods and services tax (GST) bracket, according to a report by community social media platform LocalCircles. Meanwhile, eight in ten Indians are also in favour of imposing a similar GST slab on online games, casinos and horse racing.

The survey — which was based on 34,000 responses from citizens residing in 319 districts — revealed that 34% citizens were for the aforementioned GST slab on cryptocurrencies. Meanwhile, 7% of the responders voted for “40%” tax slab, 19% voted for over “50%” tax slab. About 22% did not have an opinion on it.

On an aggregate basis, 60% of citizens want the GST rate on cryptocurrencies to be 28% or higher. This question received 12,330 responses.

According to a report by CNBC TV 18, the GST Council will take up a proposal to impose 28% GST on all services related to cryptocurrency. The government’s view is to keep cryptocurrency at par with lotteries, casinos, racecourses and betting, the report had noted.

The development comes only a few months after the finance minister Nirmala Sitharaman imposed a 30% tax on the gains on cryptocurrencies, along with 1% tax deducted at source (TDS).

Taxation on online games, casino and horse racing

On the taxation on online games, casinos and horse racing, 45% citizens were in favour of 28% GST on this leisure activity. Meanwhile, 7% of the responders voted for a 40% tax slab, 27% voted for over 50%.

Only one percent of the respondents believed that online gaming, casino and horse racing should be exempted from GST, while six percent did not have an opinion on it. This question in the survey received 12,097 responses.

Overall, 79% of the respondents wanted 28% or higher GST on these activities.

In May, a Group of Ministers (GoM) agreed to recommend hiking the GST on casinos, race courses and online gaming services to 28%. Currently, the GST rate applicable on online games involving betting or gambling is 28% and for the ones without betting or gambling, it is 18%.

On horse racing, GST is levied at 28% on the total bet value.

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