The authorities has additionally amended the GST regulation, making it obligatory for abroad on-line gaming firms to register in India from October 1.
As many as 71 present trigger notices have been issued to on-line gaming firms for alleged GST evasion throughout monetary years 2022-23 and 2023-24
As many as 71 present trigger notices have been issued to on-line gaming firms for alleged GST evasion of over Rs 1.12 lakh crore throughout monetary years 2022-23 and 2023-24, the finance ministry stated on Tuesday.
The complete Goods and Services Tax (GST) evasion detected by central GST officers within the present fiscal (until October, 2023) was Rs 1.51 lakh crore, whereas 154 individuals have been arrested. A restoration of Rs 18,541 crore was made up to now this fiscal.
Giving particulars of detection of GST evasion, Minister of State for Finance Pankaj Chaudhary stated in 2022-23 fiscal, evasion to the tune of over Rs 1.31 lakh crore was detected and 190 individuals have been arrested.
A complete of Rs 33,226 crore was recovered throughout the fiscal.
In 2021-22, 2020-21 and 2019-20, GST evasion stood at Rs 73,238 crore, Rs 49,384 crore and Rs 40,853 crore, respectively.
To a query within the Rajya Sabha on the quantity of tax evasion and variety of present trigger notices issued to on-line gaming firms, Chaudhary stated: “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.”
No abroad on-line gaming firms have registered within the nation since October 2023, Chaudhary added.
The spate of notices to on-line gaming firms follows the GST Council’s clarification in August that 28 per cent tax can be levied on full worth of bets positioned on on-line gaming platforms.
GST Council is chaired by the Union finance minister and includes finance ministers from all states and Union Territories.
The on-line gaming firms have been approaching High Courts in opposition to such GST calls for contesting the claims of income authorities. The on-line gaming firms declare they have been paying taxes on the price of 18 per cent because the video games performed on the platform have been ’video games of talent’.
The authorities has additionally amended the GST regulation, making it obligatory for abroad on-line gaming firms to register in India from October 1.
(This story has not been edited by News18 employees and is printed from a syndicated information company feed – PTI)
