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The Directorate General of GST Intelligence (DGGI) issued the largest-ever show cause notice to Gameskraft Technology, an online gaming startup.
The INR 21,000 Cr tax notice alleges indirect tax evasion on a bet amount of INR 77,000 Cr between 2017 and June 2022. The company has been asked to provide tax authorities with back-dated invoices. While the government has imposed a 28% GST rate, the company claims that rummy is a skill game and thus only requires an 18% GST rate.
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The Directorate General of GST Intelligence (DGGI) issued the largest-ever show cause notice to Gameskraft Technology, an online gaming startup.
The INR 21,000 Cr tax notice alleges indirect tax evasion on a bet amount of INR 77,000 Cr between 2017 and June 2022. The company has been asked to provide tax authorities with back-dated invoices. While the government has imposed a 28% GST rate, the company claims that rummy is a skill game and thus only requires an 18% GST rate.
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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