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SROs for online gaming sector to be notified by September end: Rajeev Chandrasekhar
Rajeev Chandrasekhar, the minister of state for electronics and IT, has revealed the expected time frame in which the self-regulatory organisations (SROs) will be set up. In his statement, Chandrasekhar said that the SROs, which will certify permissible and non-permissible applications, are expected to be established by the end of September. “There is a slight backlog in a couple of things.
After the notification, it took the applications about 2–3 months to come. The latest application was received 10-days ago,” he said as reported by The Financial Express. The minister added that the government is also
trying to ensure that the SROs are not dominated by the industry and instead have appropriate representation from other prescribed set of people including child protection and child rights experts, psychologists, educationists, among others. As of now, the MeitY has received four proposals to
form SROs from four different entities namely, the All India Gaming Federation (AIGF), the Esports Players Welfare Association (EPWA), the All India Gaming Regulator (AIGR) Foundation, and a combined one from E-Gaming Federation (EGF) and the Federation of Indian Fantasy Sports (FIFS).
Rajeev Chandrasekhar The government will notify three SROs initially, but
the number can be increased as per the requirements later on. The presence of professionals from various fields is prescribed so that decisions are taken keeping public welfare in mind. Along with the SROs, MeitY is also expected to notify the new framework for online gaming. The new online gaming rules were notified
on April 6. The MeitY gave the stakeholders three months’ time to come up with proposals to form SROs. However, the rules and SROs
are yet to be implemented. Meanwhile, in some quarters the idea of having the
presence of industry players in SROs has raised some eyebrows. However, Chandrasekhar has reassured that the government will not let the industry take over SROs. In case of any issue, the government will get involved promptly. The SROs will work within the framework defined by
the new online gaming rules to ensure proper safeguard of children, resolve any dispute and minimise addiction and financial risks.
Gujarat assembly passes GST Amendment Bill to impose 28% tax on online gaming, casinos and horse racing
recommendations of the GST Council. As a matter of fact, the decision of the GST Council in its July 11 meeting had also been taken with near unanimity. As per Gujarat FM Desai, the new GST policy
The Gujarat State Assembly passed the Gujarat Goods and Services Tax Amendment Bill unanimously on September 13. The Bill was introduced by State Finance Minister Kanubhai Desai. The amendment sought to introduce 28% GST
rate on online real money gaming, casinos and horse racing on full face value as per the
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will help in safeguarding the youth from the ill effects of online gaming and is a major step when it comes to regulating the sector in India. The state opposition, on the contrary, believes that it will encourage online gambling. Gujarat has now become the second state to
successfully amend its GST law, after Goa. Karnataka is also in the process of accomplishing the same, but has seen some delay as the Bill has been sent to the law department for a review. Notably, due to the online gaming firms’
apprehensions about the new tax rate rendering the online real money gaming sector unviable,
Union Finance Minister Nirmala Sitharaman had announced that the impact of the decision will be assessed after six months from implementation.
GST registration process becomes stricter During the first day of the monsoon legislative assembly session Gujarat FM Kanubhai Desai also revealed that the state government is planning to make GST registration process similar to the passport issuance process. This is to further tackle fraud through fake
billing. The process will also involve police verification. The announcement was done when the opposition asked about a method to tackle people claiming tax credits by creating false bills.
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