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Rummy Model GST Policy
- GST rate: Rummy model players are subject to an 18% GST tax. The entire amount that players have wagered or bet on the rummy platform is subject to this rate.
- Return filing: Players in the rummy model are required to submit GST returns on a regular basis. The player’s turnover determines how frequently returns must be filed.
- Credit for input taxes: Participants in the rummy model are able to claim input taxes on the GST they have paid on products and services they have used for their firm.
- Reverse charge mechanism: Under the reverse charge mechanism, rummy model players who provide unregistered players with rummy services must pay GST.
- Compliance: Participants in the rummy model are required to adhere to the aspects of the GST Act, which includes keeping accurate records and accounts.