Zodiac Matches That Make The Best Couples
According to the finance ministry, up to 71 show-cause notices have been sent to online gaming companies for allegedly evading GST on sales of over Rs 1.12 lakh crore in the fiscal years 2022–2023 and 2023–2024. In the current fiscal year (through October 2023), central GST officers found instances of Goods and Services Tax (GST) evasion worth Rs 1.51 lakh crore, leading to the arrest of 154 individuals. So far this fiscal year, Rs 18,541 crore has been recovered.
Minister of State for Finance Pankaj Chaudhary provided details on the detection of GST evasion, stating that during the 2022–2023 fiscal year, 190 people were arrested and over Rs 1.31 lakh crore in evasion was found. Over the fiscal year, a total of Rs 33,226 crore was recovered.
The amount of GST evaded in 2021–2022–2020–2021 and 2019–20 was Rs 73,238 crore, Rs 49,384 crore, and Rs 40,853 crore, respectively.
Chaudhary said, “71 show cause notices involving GST to the tune of Rs 1,12,”71 show cause notices involving GST to the tune of Rs 1,12,332 cr have been issued to online gaming companies during financial years 2022-23 and 2023-24 (up to October 2023). As these notices are pending adjudication, the respective GST demand is not yet determined under the provisions of CGST Act, 2017.”
Since October 2023, no foreign online gaming companies have registered in the nation, according to Chaudhary.
The GST Council clarified in August that a 28% tax would be imposed on the entire amount of bets made on online gaming platforms, and this has resulted in a wave of notices being sent to online gaming companies.
The Union Finance Minister presides over the GST Council, which is made up of finance ministers from every state and union territory.
Online gaming companies have been suing high courts to challenge the revenue authorities’ claims against such GST demands. Because the games played on the platform were “games of skill,” the online gaming companies assert that they were paying taxes at the rate of eighteen percent.
Additionally, the government changed the GST law, requiring foreign online gaming companies to register in India starting on October 1.
Also Read: Indian Government to ban over 100 Chinese websites inn investment scam
Authorities have imposed a complete ban on the operation of drones and UAVs over and…
Pakistan Army Chief General Syed Asim Munir reignited controversy on Saturday by invoking the two-nation…
Pope Francis, the first Latin American pontiff, was laid to rest in a humble ceremony…
The Bihar police have taken swift action in arresting a man accused of raping a…
PM Modi distributed 51,236 appointment letters to newly-recruited candidates in central government departments and organisations…
The Indian Embassy in Berlin organised a solemn memorial service to honour the victims of…