Sun, Oct 08, 2023
During the 52nd GST Council meeting, states raised the issue of notices for tax demand served under the GST regime on gaming companies, with some states terming it "retrospective taxation". Chhattisgarh Deputy Chief Minister T S Singh Deo said that states like Delhi and Goa raised the issue of online gaming companies receiving a spate of GST demand notices for alleged evasion. Delhi Finance Minister Atishi said that tax notices are being sent for a much higher amount than even the estimated valuation of the gaming industry.
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Fri, Sep 29, 2023
India is set to implement a 28% GST on online gaming from October 1, with the consent of all states. This could mean higher costs for gamers, but it could also lead to more transparency and regulation in the industry.
Fri, Sep 22, 2023
Indian online gaming giants are in hot water as the Directorate-General of Goods and Services Tax Intelligence (DGGI) investigates alleged tax evasion totalling a staggering Rs 31,000 crore. Previously, the government alleged tax evasion of Rs 22,936 crore. Furthermore, the recent GST Council's decision to impose a 28% tax on online gaming changes the game, starting from October 1.
Fri, Aug 11, 2023
The amendments to the Central and Integrated GST laws to levy 28 per cent tax on the full face value of bets in online gaming, casinos and horse race clubs were passed by the Parliament on Friday.
Wed, Aug 09, 2023
MPL, the online gaming giant, has announced that it is laying off 350 employees, nearly 50% of its workforce. The GST tax hike has increased MPL's tax burden by as much as 350-400%. This has forced the company to make some tough decisions, including laying off 350 employees. This is the first major casualty of the GST tax hike for the online gaming industry.
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