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NEED A PRAGMATIC APPROACH TOWARDS ONLINE GAMING
The Morning Standard
|October 10, 2023
The revenue secretary reiterated that there was no retrospective taxation and that this was the law earlier, too. The clarification does little to ease the situation for gaming companies that are together facing over a lakh crore in tax demands. The core issue remains unresolved.
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The government's dilemma in accepting gambling and online gaming as ethical business activities is leading to ambiguous policy making. This is resulting in distress and uncertainty in the sector that now boasts of employing lakhs of people and generating over $2 billion in revenue. The indecisiveness is threatening billions of dollars in investment. According to India Invest, the Indian gaming industry has received around $2.8 billion between 2017 and 2022. The industry claims to provide around
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