Tech giants, ed tech cos face 18% IGST
These companies will be taxed for their services in the Online Information Database Access and Retrieval category
Google, Facebook and several ed tech firms may have to pay nearly 18% GST on services provided to the government and individuals, as the exemption is likely to end starting October, media networks have reported.
These companies will be taxed for their services in the Online Information Database Access and Retrieval category.
The integrated goods and services tax will be applicable to overseas companies providing advertising, cloud services, online education and some other services, media reports said quoting government officials.
The Goods and Services Tax (GST) Council has already decided to amend central and state laws from October 1 to implement a 28% tax on online gaming, casinos and horse racing.
The tax will be applied not to each value of the bets placed but to the entry amount that users pay.
There will be an income tax on winning as per the law. The GST Council also has decided to amend the integrated GST Act related to importing goods and services. Offshore money gaming platforms that do not comply with the requirement will also be blocked.
