gst

Betting-Based Online Gaming Firms Said to Face Rs. 1 Lakh Crore GST Notices

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[ad_1] India’s online gaming industry has received show-cause notices amounting to Rs. 1 lakh crore say sources. The notices come even as the industry has raised concerns on the applicable GST Rates. The government has asserted that a 28 percent GST rate should have been in place starting from October 1, as per the law. … Read more

Hike Lays Off Over One-Fifth of Workforce Due to GST Raise on Online Gaming

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[ad_1] Kavin Bharti Mittal-founded Hike, which owns Rush Gaming Universe, has laid off about 55 people — more than one-fifth of its total workforce — to absorb the impact of the GST hike on online gaming, a top company official said on Thursday. The development comes within a week of gaming unicorn Mobile Premier League … Read more

Online Gaming Companies Say 28 Percent GST Will Limit Their Business, Lead to Lakhs of Job Losses

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[ad_1] Online gaming companies on Tuesday said that levying of 28 percent GST will limit their ability to invest in new games, impact cash flows as well as business expansion. The GST Council has agreed to impose a 28 percent tax on online gaming, casinos and horse racing. The tax would be levied on the … Read more