Speaking exclusively to ET NOW, Revenue Secretary Sanjay Malhotra, on Sunday, said that there is no proposal before the government to rationalise the Long Term Capital Gains (LTCG) Tax. Speaking exclusively to ET NOW, Malhotra said that taking the inflation indexation into account, there is no actual gap between 10 per cent and 12 per cent LTCG tax.
Commenting on the recent moves regarding the GST on online gaming, Malhotra further said that the government is likely to get Rs 13,000-14,000 crore in revenue from the online gaming sector annually.
Here are key takeaways from the exclusive interview with Sanjay Malhotra
GST collection for the month of January was revised to Rs 1.74 lakh crore from Rs 1.72 lakh crore, said Malhotra.
The government is expecting an average GST collection to increase to Rs 1.85 lakh crore in FY 2025.
28 per cent GST on full face value imposed on gaming companies to provide tax certainty, says Malhotra.
Revenue from the sector has been increased to Rs 3470 crore per month from Rs 200 crore per month
Likely to get Rs 13,000-14,000 crore in revenue from the online gaming sector annually.
GST council will review the 28 per cent GST on online gaming once it completes six months of implementation. The council will chart the way forward after taking all aspects into account. There is no dispute for the prospective period after October 1, 2023, he further added.
Read more at: ET NOW
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