CBIC Notifies Central Goods and Services Tax (Third Amendment) Rules, 2023 w.e.f October 1st, 2023

Notification No. 51/2023-Central Tax, dated 29-09-2023

The CBIC has issued notification under Section 15(5) to notify that the valuation of supply of online gaming, online money gaming and actionable claims in casino will be determined in a notified manner. In this regard, Rule 31B and Rule 31C have been inserted under the CGST Rules to provide the manner of determining the value of supply of online gaming (including online money gaming) and supply of actionable claims in casino respectively. The rules will be made effective from 01-10-2023.

Section 15(5) empowers the Government to notify certain supplies, the valuation of which shall be determined in a prescribed manner. The same would be notified based on the recommendations of the Council. In this regard, the Government has now issued a notification under Section 15(5) of the CGST Act to notify that the valuation of supply of online gaming, online money gaming and actionable claims in casino would be determined in a prescribed manner.

Further, Rule 31B and Rule 31C has been inserted under the CGST Rules to prescribe the manner of valuation of supplies relating to online gaming, online money gaming and casinos. Notably, the said rules were earlier inserted vide Notification No. 45/2023-Central Tax, dated 06-09-2023. However, the given notification has now been superseded vide Notification No. 51/2023-Central Tax, dated 29-09-2023. The given rules have been inserted again but with effect from 01-10-2023.

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