- India’s GST officials have served tax notices worth ₹1 lakh crore to online gaming companies.
- The gaming firms have been accused of evading taxes.
- The GST authority imposed a 28% tax on online gaming companies in August.
- Delta Corp received a GST notice for short payment of tax amounting to ₹6,384 crore.
- Dream11 and GamesKraft also received GST show cause notices for alleged short payment of taxes.
- Amendments to the GST law make it mandatory for offshore online gaming platforms to register in India and pay taxes.
- Online gaming, casinos, and horse racing are now treated as “actionable claims” and subject to 28% GST.
- Union Minister Rajeev Chandrasekhar believes that the AI and online gaming segments can contribute $300 billion to India’s GDP by 2026-27.
- The government acknowledges the importance of online gaming but aims to crack down on bad actors in the industry.
Source: a2ztaxcorp.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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