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The tax authorities have issued 71 notices to online gaming companies for not paying GST of Rs 1.12 lakh crore in financial years 2022-23 and 2023-24,...
The new levy, subject to review in six months post roll out, is likely to come into effect from October 1
Thennarasu also insisted that the modification suggested should be incorporated in the proposed amendments of the Act.
The decision has come as a rude shock for the gaming industry, which, in an open letter to the government, has urged it to reconsider the decision.
28 per cent tax would be levied on the full face value of bets, Mungantiwar said.
This has led to confusion among authorities as to which of these entities should be taxed, due to multiple agencies involved.
This intervention is aimed at making two-wheelers more affordable, reviving demand and reinvigorating an industry that has seen a significant slump in...
The all-powerful GST Council, in its 38th meeting here on Wednesday, voted for uniform rate of 28 per cent on lotteries across the country.