It is coming out that the Centre Government serves a tax notice of Rs. 1 crore lakh crore to online gaming companies and this news is creating a buzz on the internet. In the last month, multiple online gaming companies have been issued show-cause notices for alleged short payment of taxes. This news is running on the top of the news and in the trends of the social media. Many social media users and gamers are showing their interest in this topic and various questions are arriving in people’s minds. Let’s continue this article to know more about this topic and we will try to cover all information.
Our sources have fetched a lot of information about this incident but the details are so baffling, so please do not skip any line or single word to know about this topic. According to the sources, The Centre issued show cause notices worth ₹1 lakh crore on Wednesday to several online gaming companies for alleged tax evasion, news agency Reuters reported quoting government sources. However, the government official claimed that there is no data yet on the registration of foreign gaming companies in India since 1 October 2023. Several details remain to share, so swipe up this page and continue your reading.
Centre Serves Tax Notice of ₹1 Lakh Crore
Meanwhile, the Centre serves a tax notice of Rs. 1 crore to online gaming companies. A government official told Reuters that “The amount for which show cause notices have been issued to online gaming companies is around ₹1 lakh crore.” At the beginning of this month, it was reported that more than 100 online gaming applications operating in India and all of them are under the scanner of the Directorate General of Goods and Services Tax Intelligence (DGGI) for alleged tax evasion to the tune of around ₹1 lakh crore.
In the last month, several online gaming companies, including Dream11 and Gamescraft, have been issued show-cause notices for short payment of taxes. Last week, Delta Corp received a GST notice for a short tax payment of ₹6,384 crore, taking the total tax demand on the company to over ₹23,000 crore. Another showcase notice was sent to Gamescraft in September 2022 for alleged GST evasion of ₹21,000 crore. Recently in August, The Finance Ministry decided to levy a 28 per cent goods and services tax (GST) on the full value of bets placed on online gaming platforms. Our sources continue to fetch more details and we will update you soon. Stay connected with dekhnews.com to read more articles.
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