In an alarming development, the authorities in India are grappling with the escalating prevalence of overseas gaming and betting applications that are evading taxes in the country.
The GST probe has found out that these firms are converting earnings into cryptocurrency and utilizing networks of shell companies.
According to a report in The Times of India, at the epicenter of one of the largest such networks currently under investigation is Parimatch, a Cyprus-based group that even advertises during local sports leagues on television.
Source a2ztaxcorp
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