indiabiz-live-the-centre-is-expected-to-pursue-differentiated-taxes-for-online-gambling-

1.  HOME CAMPAIGNS DIGITAL MEDIA MARKETING STARTUPS ECONOMIC MARKETS FUND RAISING Top Stories Samantha Ruth de?es gender norms in Pepsi’s Rise Up Baby Campaign The Centre is Expected to Pursue Differentiated Taxes for Online Gambling  Home - Economic - The Centre is Expected to Pursue Differentiated Taxes for Online Gambling  Search here ... Latest Update RECENT POPULA R COMMO N  April 28, 2023 Dish Tv Teamed up with haeywa, a Cash Payments Platform  April 28, 2023 Economic The Centre is Expected to Pursue Differentiated Taxes for Online Gambling  April 28, 2023 By Gurpreet Kaur  2 hours ago  0  7  3 minutes read Facebook Twitter            April 28, 2023 Aksum has Raised $1 million in Pre-Series A Investment for its B2B SCaaS Platform In a U-turn, the Centre has chosen to advocate for differentiated taxation on online gaming, with “games of chance” (gambling) bearing a greater incidence of goods and services tax (GST) than “games of skill.”    According to the o?cial authority, all internet games are not games of chance, betting, or gambling. “There must be a distinction between games of skill and games of chance,” the source said, adding that the ?nance ministry will present its position when the GST Council considers the report of the GoM on internet gaming, horse racing, and casinos.    April 28, 2023 Wipro Stock Rises Amid Modest Q1 Outlook; Share Repurchases to Boost Stock Price Although the ultimate decision would be made by the Council, which includes both the Centre and the states, the ministry may suggest the maximum GST rate of 28% for online games where the winning is contingent on a certain outcome or is betting or gambling. For skill games, a lower rate, like 18%, may be recommended.   The GoM had proposed a 28% tax on casinos, racetracks, and internet gambling. Currently, an 18% GST is applied to online gambling platform fees.   Most Viewed In recent months, the GST authorities have targeted the online gaming business, where they have discovered massive tax fraud. In the Karnataka High Court in September 2022 halted a noti?cation demanding GST payment of ‘21,000 crores on the gaming business Gameskraft Technologies. The online gambling business has also requested that the income tax authorities consider the new TDS restrictions.   HOME  February 15, 2023 Adani Group equities are the Subject of This Week  CAMPAIGNS DIGITAL MEDIA MARKETING STARTUPS ECONOMIC MARKETS Recent reports    March 3, 2023 FUND RAISING The GoM, led by Meghalaya Chief Minister Conrad Sangma, delivered its report to Union Finance Minister Nirmala Sitharaman in December last year. While it recommended a 28% tax on online gambling, there was no agreement on whether the tax should be paid simply on the fees collected by  VCs’ ?xation with start-ups’

2. topline, says CEO of Infosys the site or on the total consideration, including the bet amount. Following that, it resolved to send all decisions to the GST Council.    Another source stated that the GoM is unlikely to convene to evaluate its ?ndings and that all perspectives would now be presented to the GST Council when it takes up the issue. The date for the next Council meeting has not yet been set, although it is scheduled to take place in June.    January 31, 2023 IHC investment leads Adani Enterprises shares to boost by 5%   With regulators cracking down on enterprises for tax avoidance, the sector has been waiting for clari?cation on the GST on online gambling.   In recent months, the GST authorities have targeted the online gaming business, where they have discovered massive tax fraud. In the Karnataka High Court in September 2022 postponed a notice demanding Rs 21,000 crore in GST payment from gaming business Gameskraft Technologies.     February 20, 2023 Adani Enterprises Shares Must Increase by up to 410% to Reach their 52- week Highs The online gambling business has also requested that the income tax authorities consider the new TDS restrictions.   The GoM, led by Meghalaya Chief Minister Conrad Sangma, delivered its report to Union Finance Minister Nirmala Sitharaman in December last year. While it recommended a 28% tax on online gambling, there was no agreement on whether the tax should be paid simply on the fees collected by the site or on the total consideration, including the bet amount. Following that, it resolved to send all decisions to the GST Council.    February 27, 2023 Another source stated that the GoM is unlikely to convene to evaluate its ?ndings and that all perspectives would now be presented to the GST Council when it takes up the issue. The date for the next Council meeting has not yet been set, although it is likely to take place soon in June.   M-cap of the Adani Group falls below the Rs 7 lakh crore threshold  With regulators cracking down on enterprises for tax avoidance, the sector has been waiting for clari?cation on the GST on online gambling.   Tax o?cials are also optimistic that the recently announced revisions to the IT laws for 2021 would aid in the improved surveillance of online gambling companies. Online gaming intermediaries engaging in real-money games would be required to get players’ KYC information.   March 3, 2023 Buy Adani Group Stocks, Advises ICICIdirect   You can share this post! Most Reviews           RECENT POPULA R COMMO N  Previous article Aksum has Raised $1 million in Pre-Series A Investment for its B2B SCaaS Platform Next article   April 28, 2023 Dish Tv Teamed up with haeywa, a Cash Payments Platform Dish Tv Teamed up with haeywa, a Cash Payments Platform Related Articles  April 28, 2023 ECONOMIC ECONOMIC ECONOMI The Centre is Expected to Pursue Differentiated Taxes for Online Gambling  April 28, 2023 Aksum has Raised $1 million in Pre-Series A Investment for its B2B SCaaS Platform So far, the Government has Released Rs 2,874… FM Sitharaman urges CBDT to prioritize compliance while… Govt & th to…  April 27, 2023  April 26, 2023  April 24 Leave a Reply Your email address will not be published. Required ?elds are marked * HOME CAMPAIGNS DIGITAL MEDIA MARKETING STARTUPS ECONOMIC MARKETS FUND RAISING 

3. Newsletter Comment * Subscribe to our mailing list to get the new updates!  Name * Email * POST COMMENT Subscribe our newsletter to stay updated Your email a  About Indiabiz Recent Post Popular Categories Trending Post  April 28, 2023 Campaigns Digital Media Adani Group equities are the Subject of This Week  Dish Tv Teamed up with haeywa, a Cash Payments Platform Economic Fund Raising Marketing Markets Politics Startups  April 28, 2023 Uncategorized VCs’ ?xation with start-ups’ topline, says CEO of Infosys The Centre is Expected to Pursue Differentiated Taxes for Online Gambling  April 28, 2023 IHC investment leads Adani Enterprises shares to boost by 5%   Aksum has Raised $1 million in Pre-Series A Investment for its B2B SCaaS Platform © Copyright Indiabiz.live 2022. Designed and Developed by VUI Live 