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Online gaming companies, specializing in platforms like poker, rummy, and fantasy sports, are implementing strategies amidst the evolving landscape of taxation. In response to the surge in indirect taxes, these companies are devising new approaches to retain user funds within their…
Finance minister Nirmala Sitharaman’s clarification in the Lok Sabha that the 28% GST on entry-level bets in online gaming applies prospectively, starting October 1, 2023, fails to deter the officials from sending show-cause notices to online gaming companies. Officials have already…
Karnataka’s IT Minister Priyank Kharge recently appeared at a conclave, wherein online gaming’s concern related to 28% GST were discussed. Kharge opined that the government’s approach to regulate online gaming industry is not optimal. He believes that the lack of…
The writ petition by Industry Association E-Gaming Federation (EGF) and money gaming platform A23 before the Supreme Court challenging the provisions of CGST 2017 will be heard tomorrow i.e., December 15 . The matter is listed before a three judge bench headed…
Online money gaming firms, previously positioning themselves as offering skill-based games, face potential additional tax dues of around Rs. 45,000 crore, according to an ET report. The Central Board of Indirect Taxes and Customs (CBIC) has evaluated unsettled GST liabilities…
The difference of opinion has been reported between the Ministry of Electronics and Information Technology (MeitY) and the Ministry of Finance (MoF) over the Goods and Services Tax Council decision to impose GST of 28 percent on the turnover of…
Skill gaming industry is concerned about additional cost burden as well tight timeline for the implementation of the new goods and services tax (GST) rate at 28 percent on deposits. GST currently is levied at 18 percent on platform fees…
The GST Council’s recent decision to impose 28 per cent tax on the full face value of bets placed in horse racing is a “great disappointment” for the horse racing industry, according to the Turf Authorities of India (TAI). At…
The Auto component industry has urged the government to levy a uniform 18 per cent GST on all the auto components, according to a report in the Deccan Herald. “Currently, there are two GST rates that are applied on the…