Notices Issued To Gaming Firms Over Rs 1.12 Lakh Crore GST Evasion: Centre

As many as 71 show cause notices have been issued to online gaming companies for alleged GST evasion of over Rs 1.12 lakh crore during financial years 2022-23 and 2023-24, the finance ministry said today.

GST officers have busted a syndicate of 48 fake firms which availed fraudulent input tax credit (ITC) of over Rs 199 crore and have arrested three people in this regard, the finance ministry said on Tuesday.

India's online gaming industry has received show-cause notices amounting to Rs. 1 lakh crore say sources. The notices come even as the industry has raised concerns on the applicable GST Rates.

GST authorities have issued show cause notices worth Rs 1 lakh crore to online gaming companies for tax evasion so far, a senior official said on Wednesday.

From November 1, many sectors and things associated with day-to-day affairs will see changes. These changes will also affect companies who have to file the Goods and Services (GST) receipts. One of them will be particularly important for people who r

The Central Board of Indirect Taxes and Customs said no such tax has been imposed on Gangajal, used in puja and other ceremonies.

Life Insurance Corporation on Wednesday said the GST Authority has imposed a fine of Rs 36,844 on LIC for lower payment of taxes.

National Cinema Day is back with Rs. 99 tickets, and select online ticketing sites have begun bookings for the occasion. At the time of writing, only major Bollywood movies like Jawan and Mission Raniganj are providing the option to book tickets for October 13, though this should be further expanded. Due to state regulations, theatres in select South Indian regions li...

Delhi Finance Minister Atishi today said tax evasion notices worth Rs 1.5-lakh crore to online gaming companies will finish them and vowed to seek their withdrawal at the GST Council meeting during the day.

The Federation of Indian Fantasy Sports (FIFS) on Wednesday urged the government not to impose a 28% GST on online gaming with retrospective effect, as it is discouraging investors from putting their money into this booming industry.

The Central Board of Indirect Taxes and Customs (CBIC) Chairman, Sanjay Agarwal, has announced that India is prepared to implement a 28 per cent Goods and Services Tax (GST) rate on online gaming starting from October 1.

BJP leader Pankaja Munde on Tuesday confirmed that a cooperative sugar mill controlled by her family has received a notice from the Goods & Services Tax (GST) department.

Fantasy sports platform Dream11 has filed a petition in the Bombay High Court challenging the levy of 28 per cent GST retrospectively on bets placed on its platform.

The former BharatPe founder questioned the thought process of people running the tax department and said that their goal is just to ''harass businessmen.''