मैगज़्टर गोल्ड के साथ असीमित हो जाओ
10,000 से अधिक पत्रिकाओं, समाचार पत्रों और प्रीमियम कहानियों तक असीमित पहुंच प्राप्त करें सिर्फ
कोशिश गोल्ड - मुक्त
Stiff tax on gross revenue spooks online gaming cos
Mint Mumbai
|July 12, 2023
Gaming services not 'actionable claims', says FM; industry had lobbied to be taxed on net profit
The Goods and Services Tax (GST) Council on Tuesday decided to tax online gaming companies at 28% of their gross revenue, or full face-value of transactions and entry fees paid by gamers, disappointing an industry that has lobbied for months to be taxed on its profit rather than revenue.
Online gaming firms have so far paid 18% GST on their net profit.
Alongside the new tax regime, Union finance minister Nirmala Sitharaman said at a press conference after the GST Council’s 50th meet that online gaming services “are not actionable claims".
The taxation decision could deal a blow to online gaming companies. Industry regulators and stakeholders expressed shock, saying the tax risks making online gaming businesses unviable in India.
यह कहानी Mint Mumbai के July 12, 2023 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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