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,…
The Indian government has mandated offshore online gaming companies operating in the country to register the business locally or appoint a representative to pay tax on funds collected from customers. Last week, India decided to levy a 28 percent tax on total funds collected by online gaming companies from gamers,…
India’s new 28 percent tax on online gaming companies will stifle foreign investment and put $2.5 billion (roughly Rs. 20,500 crore) already invested in the sector at risk, more than 100 gaming firms have said in a letter to India’s finance ministry. India this week announced the tax on the…
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