Government Notifies Provisions of ‘Online Gaming’ Under Maharashtra Goods and Services Tax (Amendment) Ordinance
Government Notifies Provisions of ‘Online Gaming’ Under Maharashtra Goods and Services Tax (Amendment) Ordinance
Several states and union territories had issued ordinances to carry out changes to the laws on it
The Maharashtra government has notified the Maharashtra Goods and Services Tax (Amendment) Ordinance, 2023, which introduced the 'online gaming' and 'online money gaming' provisions.
The addition of terminologies including ‘virtual digital asset’ and ‘specified actionable claim’ is a noteworthy feature of this update. The Act substitutes the phrase ‘specified actionable claims’ for the more general ‘lottery, betting, and gambling’.
As per the newly inserted provisions, ‘online gaming’ means offering a game on the internet or an electronic network and includes online money gaming.
Similarly, ‘online money gaming’ means online gaming in expecting to win money or its worth. It includes virtual digital assets, in any event comprising games, schemes, competitions, or other activities, whether the outcome was based on skill, chance, or both and if it was permissible under any other law.
Following the 50th and 51st Goods and Services Tax Council Meetings in October 2023, several states and union territories had promptly issued ordinances to carry out changes to the laws about ‘online gaming’.
The coordinated efforts show how different regions are working together to manage and control problems relating to internet gaming.
