Live
- Kiran Abbavaram's Hard Work Pays Off: Bunny Vasu Lauds Ka Team at Success Meet
- PM Modi’s welfare schemes transform rural lives in Bokaro, residents share gratitude
- We will ensure Bangladeshi infiltrators are removed from Jharkhand: BJP's Gourav Vallabh
- Hezbollah fires five rockets at central, northern Israel: sources
- HM Amit Shah, Rajnath Singh to address several rallies in Jharkhand tomorrow
- Will not waste single day in getting back what we lost, Omar Abdullah tells Assembly
- PM Modi visits Advani's residence to wish him on birthday, shares special moment
- Sun-Dried Cotton to Be Taken to CCI Purchase Centers, Avoid Middlemen - Collector
- Survey Process Requires Public Cooperation - Collector Badavath Santosh
- Distribution of Maize Seeds to Farmers at Agricultural Research Center
Online gaming cos asked to cough up Rs 1-trn GST
GST authorities have issued show-cause notices worth Rs1 lakh crore to online gaming companies for tax evasion so far, a senior official said on...
GST authorities have issued show-cause notices worth Rs1 lakh crore to online gaming companies for tax evasion so far, a senior official said on Wednesday.The official, however, said that there is no data yet of foreign gaming companies registering in India since October 1. The government has amended the GST law, making it mandatory for overseas online gaming companies to register in India from October 1. The GST Council had in August clarified that 28 per cent Goods and Services Tax (GST) would be levied on full value of bets placed on online gaming platforms.
“It was informed to certain members that this is not retrospective and this was the law earlier. These liabilities were already existing because money online games played with bets.
They were already attracting by way of betting or gambling 28 per cent GST,” said Revenue Secretary Sanjay Malhotra, while answering a question at a press conference after the meeting.
“Online gaming companies served notices worth about Rs1 lakh crore by GST authorities so far,” the official said. Many online gaming firms like Dream11, and casino operator, like Delta Corp, have received GST show-cause notices last month for alleged short payment of taxes. Separately, a show-cause notice was sent to GamesKraft in September last year for alleged GST evasion of Rs21,000 crore.
