ED Investigates Gaming Companies’ GST Evasion Worth Rs. 23,000 Crore

The Directorate of Enforcement is investigating GST evasion of about Rs 23,000 crore by gaming companies between April 2019 and November 2022, Minister of State for Finance Pankaj Chaudhary said on Monday. The ED has attached proceeds of crime in cases related to cyber and crypto assets frauds.

High nominal GDP growth in the first quarter supported strong growth in revenue collection, especially Goods and Services Tax (GST), despite tax cuts on fuel.

A government panel of state finance ministers has not yet submitted its report on plans to tax the online gaming sector, according to a government official. The panel is yet to decide whether to talk the profits of these firms, or the value of the entire pool of money collected from game participants.

This is the ninth straight month when collections from Goods and Services Tax (GST) has remained above Rs 1.40 lakh crore.

At the Rajwada palace, Rahul Gandhi again attacked the central government, saying, "What the Chinese army couldn't do to India has been done by demonetisation and a flawed GST".

Conrad Sangma-headed Group of Ministers (GoM) held its final meeting on the issue earlier this week and is understood to have recommended a GST levy of 28 per cent on online gaming,

From December 1, all complaints related to GST profiteering will be dealt with by India's antitrust watchdog Competition Commission of India (CCI), in place of the National Anti Profiteering Authority (NAA), a government notification said.

India's tax collection will exceed the budget estimate by nearly Rs 4 lakh crore in the current fiscal on the back of buoyant income tax, customs duty and GST (Goods and Services Tax ) mop-up, Revenue Secretary Tarun Bajaj said today.

Cellular Operators' Association of India (COAI)has urged the government for rationalisation of GST, reduce of licence fee to 1 percent from 3 percent and sought a waiver of customs duty on network equipment for the 5G rollout. During the pre-Budget discussions, the telecom operators' body also sought the removal of GST on the licence fee, spectrum usage charges and pa...

The panel of state finance ministers is likely to recommend a uniform GST (Goods and Services Tax) levy of 28 per cent on online gaming irrespective of whether it is a game of skill or game of chance, sources said.

The Budget should focus on measures to accelerate job creation and broaden the tax base by rationalising GST and personal income tax slabs to boost consumption, industry bodies said in their pre-Budget meeting with Finance Minister Nirmala Sitharaman today.

Attending a tribal outreach programme in Jhargram, the Bengal Chief Minister, taking a swipe at the BJP, wondered whether India has become a "one-party country"

Launching a tirade against the BJP-led Union government, West Bengal Chief Minister Mamata Banerjee today said that if the Centre does not clear the state's dues, it may have to stop paying Goods and Services Tax or GST.

All Goods and Services Tax (GST) anti-profiteering complaints would be dealt with by the Competition Commission of India (CCI) from December 1.