Specified actionable claim classification under IGST rate schedule enacts taxable treatment for betting, gambling and online gaming. The notification inserts S. No. 227A into Schedule IV to Notification No. 1/2017, treating specified actionable claim-as defined in section 2(102A) of the CGST Act-as including claims from betting, casinos, gambling, horse racing, lottery and online money gaming, and omits S. No. 228 and 229. It further adds that undefined words in the notification have the meanings assigned in the CGST, IGST and UTGST Acts. The amendment is effective from the 1st day of October, 2023.
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Specified actionable claim classification under IGST rate schedule enacts taxable treatment for betting, gambling and online gaming.
The notification inserts S. No. 227A into Schedule IV to Notification No. 1/2017, treating specified actionable claim-as defined in section 2(102A) of the CGST Act-as including claims from betting, casinos, gambling, horse racing, lottery and online money gaming, and omits S. No. 228 and 229. It further adds that undefined words in the notification have the meanings assigned in the CGST, IGST and UTGST Acts. The amendment is effective from the 1st day of October, 2023.
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