Key Points
Revenue Secretary Sanjay Malhotra dismissed the online gaming industrys concerns about income declines as apprehension, saying the government expects a boost in tax collection from the sector of up to Rs 20,000 crore in FY23-24 if growth rates remain constant...
If the industry continues to grow at the same rate, then we should clock around Rs 15,000-20,000 crore, Malhotra told Money Control...
The GST Council has unanimously decided to impose 28 per cent tax on online gaming, casino and horse racing etc, he said adding that the government will pursue all cases in the Supreme Court for recovery of erstwhile tax demands...
One of the members, in fact, in the GST Council pointed out that the way the online gaming companies are paying the taxes on online games at 18 per cent of GGR, which works out to only about 2-3 per cent, even lower than the tax rate of 5 per cent levied on many of the food products consumed by the very common people, Malhotra told PTI in an interview...
On the possibility of review following concerns expressed by the online gaming industry, Malhotra said, The council was very unanimous..
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