The gaming industry is experiencing significant challenges following the decision by the GST Council to impose a 28% tax on the full player deposit value in online money gaming.
The Minister of State for Finance, Pankaj Chaudhary, informed the Parliament that there are 14,227 appeals pending during the 2023-24 fiscal year, up from 11,899 appeals as of March 2023.
The Central Board of Indirect Taxes and Customs (CBIC) notified the CGST (Second Amendment) Rules, 2023 on August 4, 2023. The rules were notified in order to implement the recommendations of the 50th GST Council Meeting held on July 11, 2023.
As of October 1, a 28 percent tax will be imposed on the full face value of bets placed on online games
Recommendations of 51st GST Council Meeting
Advisory on E-Invoice - Services Offered by the Four New IRPs
CBIC Notifies GSTR-9 Filing Exemption for FY 2022-23 for Small Taxpayers with AATO up to 2 Crore.
CBIC vide Circular No. 201/13/2023-GST dated August 01, 2023 has issued clarifications regarding the applicability of GST on certain services based on the recommendations of the GST Council in its 50th meeting held on July 11, 2023.
The CBIC vide Circular No. 200/12/2023-GST dated August 01, 2023 has issued clarification regarding GST rates and classification of certain goods based on the recommendations of the GST Council in its 50th meeting held on July 11, 2023.
₹1,65,105 crore gross GST revenue collected for July 2023; records 11% Year-on-Year growth
Certification Course on GSTR-3B Reconciliation with GSTR-2B using AI Tools