Govt may set up panel to ensure compliance by online gaming platforms
An inter-departmental committee with representatives from ED, RBI, tax and consumer affairs departments may be set up to combat the proliferation of online gaming platforms and ensure regulatory compliance, a DGGI report said.
The GST intelligence wing of the Central Board of Indirect Taxes and Customs (CBIC) has initiated action against 118 domestic online gaming entities, and Show Cause Notices have been issued to 34 taxpayers involving tax amount of Rs 1,10,531.91 crore.
The notices were issued to these gaming companies as they were not paying GST at 28 per cent rate.
Furthermore, 658 offshore entities have been identified as non- registered/non-compliant entities and are being investigated by the DGGI. Also, 167 URL/websites have been recommended for blocking.
The Directorate General of GST Intelligence (DGGI) annual report 2023-24 flagged that online money gaming' is a "high-risk" industry for tax evasion, money laundering, cyber frauds, juvenile delinquency and various ...