11 Aug 2023 05:51 PM
New

Impact of 28% GST on Online Gaming: Government’s Decision Explained

Source: https://taxguru.in/goods-and-service-tax/impact-28-percent-gst-online-gaming-explanation.html

Introduction: This article provides insights into the Indian Government’s decision to levy a 28% Goods and Services Tax (GST) on online gaming websites. It explains the motives behind the decision, its potential impact on the online gaming industry, the expected tax revenue, and whether any states opposed this decision in the GST Council.

11 Aug 2023 05:59 PM
New

Govt's Approach & Impact Assessment

Source: https://taxguru.in/goods-and-service-tax/decriminalization-offenses-gst-government-approach-impact-assessment.html

Introduction: This article provides insights into the recent decriminalization of offenses under the Goods and Services Tax (GST) regime in India. It sheds light on the Government’s approach to this decision, the amendments made, the assessment of its impact on revenue collection and compliance levels, considerations of deterrence against tax evasion and fraud, and the involvement of State Governments and stakeholders in the decision-making process.

11 Aug 2023 05:55 PM
New

Expansion of GST Appellate Tribunals and Status of Pending GST Disputes

Source: https://taxguru.in/goods-and-service-tax/expansion-gst-appellate-tribunals-status-pending-gst-disputes.html

Introduction: This article delves into the recent developments regarding the establishment of GST Appellate Tribunals across India and the status of pending GST disputes. It sheds light on the State Governments’ proposals for setting up these tribunals, the Government’s response, and the locations where these tribunals are expected to be established. Additionally, the article provides details about the number of pending GST appeals and their resolution in the past three years and the current year.

11 Aug 2023 06:05 PM

Impact of Imposing 28% GST on Online Gaming Industry

Source: https://taxguru.in/goods-and-service-tax/impact-imposing-28-gst-online-gaming-industry.html

Introduction: This article explores the implications of the Indian Government’s decision to impose a 28% Goods and Services Tax (GST) on the online gaming industry. It provides insights into the estimated size of the industry, the projected revenue collection, and the rationale behind this tax rate. The impact of the 28% GST on the growth and revenue generation of the online gaming sector is also discussed.

11 Aug 2023 06:02 PM

Request to consider mechanism to remit interest on un-utilized ITC

Source: https://taxguru.in/goods-and-service-tax/request-consider-mechanism-remit-interest-un-utilized-itc.html

The concepts of un-utilized Input Tax Credit (ITC), Income Tax Refund, and the potential impact of providing interest on un-utilized ITC under the Central Goods and Services Tax (CGST) Act.

10 Aug 2023 05:17 PM

Cabinet okays GST changes to betting on online games

Source: https://www.livemint.com/news/india/cabinet-okays-gst-changes-to-betting-on-online-games-11691606300513.html

The Union cabinet on Wednesday cleared legislative changes needed to implement the GST Council’s decision to ensure that 28% GST is paid on the full value of amounts deposited by players for betting on online games, casinos and horse races, three people familiar with the development said.

09 Aug 2023 05:10 PM

28% GST on full face value of bets to yield more tax revenue: finance minister

Source: https://www.livemint.com/economy/28-gst-on-full-face-value-of-bets-to-yield-more-tax-revenue-finance-minister-11691505534999.html

Some online gaming companies and horse race clubs are disputing the 28% levy before various legal fora

09 Aug 2023 05:07 PM

GST impact: Mobile Premier League to slash 350 jobs

Source: https://www.livemint.com/companies/news/gst-impact-mobile-premier-league-to-slash-350-jobs-11691502483007.html

New Delhi: As one of the fallouts of the meek outlook following the decision of the GST Council to increase the GST burden on gamers and gaming companies to 28%, one of the largest players in the fantasy gaming business, Mobile Premier League (MPL), has decided to slash 350 jobs.

09 Aug 2023 05:19 PM

Is ‘Esport’ next big thing for India? Zerodha co-founder Nikhil Kamath backs gaming industry. See post

Source: https://www.livemint.com/companies/people/esportsgaming-industry-nikhil-kamath-28-percent-gstipl-11691552081121.html

India's gaming industry faces setback with 28% GST on online games, but Zerodha co-founder predicts it as the 'next big thing' for India, citing its larger size than the movie and music industries combined. The Indian gaming market is expected to reach $8.6 billion by FY2027

09 Aug 2023 05:22 PM

ICICI Lombard responds to GST notice, alleging tax demand of ₹273 crore; check here

Source: https://www.livemint.com/companies/news/icici-lombard-responds-to-gst-notice-alleging-tax-demand-of-rs-273-crore-check-here-11691561812213.html

ICICI Lombard General Insurance Company Limited has received a Goods and Services Tax (GST) show-cause notice, alleging a tax demand of ₹273.4 crore along with interest, the company informed the BSE.