Live
- India Faces Blow as Pacer Mohammed Shami Ruled Out for Remainder of Australia Series
- Farmer’s Day Celebrations Held at Palem Agricultural Research Center, Nagarkurnool
- Biden Pardon: Joe Biden Commutes Death Sentences of 37 Inmates, Including Child Killers and Mass Murderers
- South Korea: Yoon believes impeachment trial takes priority over martial law probe
- Strict Action for Non-Adherence to Time Management - DMHO Dr. Swarajya Lakshmi
- Joyful Semi-Christmas Celebrations at Sri Saraswathi International School
- Over 13.29 lakh houses approved for rural poor in Maharashtra: Shivraj Chouhan
- District Collector Urges Timely Completion of Indiramma Housing Scheme Survey
- Digital Arrest Scam: Hyderabad Man Duped of ₹7 Lakhs by Fake Crime Branch Police Callers
- Sukhbir Badal seeks President's Police medal for officer who saved his life
GST notices worth Rs 1 lakh crore issued to online gaming firms
The Goods and Services Tax (GST) authorities have issued show cause notices demanding as much as Rs 1 lakh crore from online gaming companies for tax evasion so far, a senior official confirmed on Wednesday.
New Delhi: The Goods and Services Tax (GST) authorities have issued show cause notices demanding as much as Rs 1 lakh crore from online gaming companies for tax evasion so far, a senior official confirmed on Wednesday.
Last week, Delta Corp received a GST notice for short payment of tax to the tune of Rs 6,384 crore which came close on the heels of a Rs 16,800 crore tax notice sent to the company in September.
Other gaming companies that were sent such show cause notices for shortfall in GST payments, include Dream11 and GamesKraft, which were asked to pay up Rs 21,000 crore.
The Union Finance Ministry has notified October 1 as the date for implementing the 28 per cent GST rate on online gaming, casinos and horse racing.
The Central government has clarified to the states that the GST on online gaming companies is not being levied retrospectively since some online games involved in betting were already being charged a 28 per cent GST under the law earlier.
The Centre made the clarification as some states such as Goa had claimed that the 28 per cent GST on online gaming companies was being levied retrospectively.
A number of online gaming companies were issued show-cause notices earlier for allegedly evading GST with cumulative amount adding up to Rs 55,000 crore.
Many have termed this as retrospective taxation claiming that the notices pertain to the period before the October 1 implementation date for a new tax treatment for 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," Revenue Secretary Sanjay Malhotra had said in answer to a question at a press conference after the meeting.
Chhattisgarh Deputy Chief Minister T.S. Singh Deo also said that the Council discussed the issue of retrospectively taxing online gaming under the indirect tax regime with the dues being demanded from some firms exceeding their turnover.
