With reference to the Online gambling and betting in India, consider the following statements: Subject of gambling falls in the concurrent list. As online betting is still not legal in India , It does not come under GST Legalising sports betting will increase Foreign direct investment(FDI) in the sector. Which of the statements given above is/are incorrect?

Q. With reference to the Online gambling and betting in India, consider the following statements:
1. Subject of gambling falls in the concurrent list.
2 As online betting is still not legal in India , It does not come under GST
3Legalising sports betting will increase Foreign direct investment(FDI) in the sector.
Which of the statements given above is/are incorrect?

[A] 1 and 3 only

[B] 2 and 3 only

[C] 1 and 2 only

[D] All of the above

Answer: C

Notes:

Legalization of sports betting will improve FDI, Jobs in the sports-sector.

Subject of gambling figures in the State List.

GST and income tax are still applicable to these games. Its only a licensing fee which may not be applicable at this point of time. Dream 11 for instance, is paying GST, and the winners will end up paying income tax as well.

Source- Article

The Last Webinar on Mains 2024 | Session by Mr. Ayush Sinha