SC stays GST notices against online gaming ... - The Financial …
12 hours ago · By December 2023, online gaming companies were grappling with 71 show-cause notices accusing them of GST evasion amounting to a staggering Rs 1.12 lakh crore for 2022-23 and the first seven months ...
Supreme Court stays GST proceedings against online gaming …
23 hours ago · This could make online gaming platforms more expensive and less accessible to the general public. As of December 2023, online gaming companies have received 71 show-cause notices alleging GST evasion of ₹1.12 lakh crore during 2022-23 and the first seven months of 2023-24, excluding interest and penalties. Since these notices were issued ...
Supreme Court Stays GST Notice Worth Rs 1 Lakh Crore Against Online …
1 day ago · Many online gaming firms like Games 24x7, Head Digital Works, Federation of Indian Fantasy Sports had moved the top court challenging the GST imposition. Last year, the Supreme Court had allowed a petition filed by the Central government and had transferred the pleas to itself from nine high courts across the country for an authoritative ...
GST notices worth Rs 1.12 trillion on online gaming companies …
22 hours ago · Previously, skill-based games attracted a lower tax rate of 18 per cent. In December 2023, the government told the Rajya Sabha that online gaming companies had received 71 show-cause notices for alleged GST evasion, amounting to Rs 1.12 trillion, for 2022-23 and the first seven months of 2023-24.
SC stays GST notices worth over Rs 1 lakh crore against online gaming ...
21 hours ago · The Supreme Court on Friday stayed showcause notices issued by GST authorities worth over Rs 1 lakh crore to online gaming companies and casinos over alleged tax evasion. A bench of Justices J B Pardiwala and R Mahadevan said the matters required hearing and all proceedings against the gaming firms should remain stayed in the meantime.
Supreme Court Grants Relief To Online Gaming Sector, Halts Rs …
21 hours ago · The Supreme Court of India has provided significant relief to online gaming companies by staying Goods and Services Tax (GST) show-cause notices worth an astounding Rs 1.12 trillion. The Court has ordered the suspension of all proceedings related to these notices until a conclusive resolution is reached, offering a crucial break to businesses ...
GST on gaming companies: SC stays GST notices worth over
22 hours ago · Many online gaming firms like Games 24x7, Head Digital Works, and the Federation of Indian Fantasy Sports had moved the top court challenging the GST imposition by the GST authorities.
Online Gaming Cos vs GST: SC stays ₹1.12 lakh crore tax
1 day ago · Also Read: 90-hr work week advocate L&T chairman took home ₹51 cr in FY24, 530 times employees’ median salary By December 2023, online gaming firms faced 71 show-cause notices for allegedly evading GST worth ₹1.12 lakh crore during 2022–2023 and early 2023–2024. The retrospective tax, applied to bets placed between August 2017 and October 1, 2023, has left the industry reeling.
Exclusive | ₹1.12 lakh crore e-gaming GST claim, Revenue …
1 day ago · The Directorate General of GST Intelligence (DGGI) has raised a massive ₹1.12 lakh crore tax demand against 71 online gaming companies. The dispute stems from an amendment to the CGST Act in August 2023, which imposed a 28% tax on the “full face value” of entry amounts for online gaming.
GST: India's online game tax could kill a booming industry - BBC
The Indian government's decision to impose a 28% tax on online gaming poses an "existential threat" to the booming industry and could spell its death knell, say experts. Shares of Indian...
- Some results have been removed