Last Updated: October 25, 2023, 17:51 IST
Online gaming corporations face a hefty tax invoice from the government as per studies
Indian tax authorities have served notices to on-line gaming firms demanding about 1 trillion rupees ($12.03 billion) in taxes that they’ve allegedly evaded, a authorities supply mentioned on Wednesday.
NEW DELHI:Indian tax authorities have served notices to on-line gaming firms demanding about 1 trillion rupees ($12.03 billion) in taxes that they’ve allegedly evaded, a authorities supply mentioned on Wednesday.
In August, India determined to impose a 28% tax on on-line gaming firms on the whole funds deposited to play on-line video games, resulting in some corporations like Mobile Premier League shedding workers.
“The amount for which show cause notices have been issued to online gaming companies is around 1 trillion rupees,” the federal government official, who didn’t need to be named, advised reporters.
The finance ministry didn’t instantly reply to a request for remark.
(This story has not been edited by News18 workers and is printed from a syndicated information company feed – Reuters)
