New Delhi: GST authorities have issued show cause notices worth Rs 1 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, PTI reported. 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 the full value of bets placed on online gaming platforms.
“Online gaming companies served notices worth about ₹ 1 lakh crore by GST authorities so far,” the official said.
A host of online gaming, 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 Rs 21,000 crore.
While the Karnataka High Court has ruled in favour of the company, the central government in July filed a Special Leave Petition (SLP) in the Supreme Court, the report added.
In the heart of Andhra Pradesh, nestled amidst the sacred hills of Tirumala, lies the…
Bhubaneswar: The Commissionerate Police arrested five persons for allegedly selling smuggled ganja in Bhubaneswar on…
Bhubaneswar: KIIT Deemed to be University felicitated its students who represented India in the recent…
Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi on Sunday inaugurated and laid foundation stone for…
Colombo: The signs were clear from the early rounds of vote counting in Sri Lanka’s…
New Delhi: It was a red-letter day not only for our chess fraternity, but Indian…
Bhubaneswar: The technical survey of Ratna Bhandar inside Jagannath temple in Odisha's Puri town was…
Hyderabad: Celebrated Telugu megastar K Chiranjeevi has added another feather to his cap. The 69-year-old actor-politician…