The GST Council is expected to provide much-needed clarity on the taxation in these industries during its two-day meeting, which starts on Tuesday. They are likely to specify the transaction value on which a proposed 28 percent tax would apply as well as the possibility that a 28 percent rate could apply to casinos, online games, and racetracks.
During the two-day meeting in Chandigarh, the Council will discuss the report presented by the Group of Ministers chaired by Conrad Sangma, the chief minister of Meghalaya.
The group has suggested that the entry fee and the cost of the chips or coins purchased at a casino should both be subject to a 28 percent GST, but not the player’s bets. The suggestion states that in the event of online gaming, a rate of 28 percent should be applied to the entire amount of the consideration provided by the player for participation.
The panel has proposed that a 28 percent GST be imposed on gambling establishments, online games, and racetracks regardless of whether the activity is a game of skill, chance, or both. Industry participants have frequently been required by court rulings to pay GST at an 18% rate.
The panel also recommended that once GST is applied to the cost of coins or chips purchased at casinos, no additional GST should be applied to the amount wagered during each round of betting
Ajit Pawar, the deputy chief minister of Maharashtra, Kanubhai Patel, the finance minister of Gujarat, Chandrima Bhattacharya, the transport and Panchayati raj minister of Goa, Mauvin Godinho, the finance minister of Tamil Nadu, Palanivel Thiaga Rajan, the finance minister of Uttar Pradesh, Suresh Kumar Khanna, and the finance minister of Telangana are additional members of the GoM.
Examining the topic of service valuation, the taxability of certain casino transactions, and other issues were among the terms of reference. AMD is seeking to equal the performance of the NVIDIA GeForce RTX 3060 Max-Q with its fastest RDNA 3 integrated processor.
One of the most popular alternatives for notebook GPUs is the 3060, so if AMD can achieve performance that is close to that, that would be a significant triumph for team red since you would be getting some great performance from a chip with a TDP of 60–70W.
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