"News reports suggest that GST authorities may be clubbing online games of skill, which are constitutionally protected businesses, with betting and gambling, which are games of chance. If that is the case, it would disregard over 60 years of established legal jurisprudence that has been repeatedly reaffirmed by the Supreme Court and high courts," said Roland Landers, CEO, All India Gaming Federation.
Sameer Barde, CEO, E-Gaming Federation, pointed out that a Group of Ministers (GoM) was formed to give recommendations for a fair and equitable GST regime for all forms of gaming. "We expect the same to be reasonable and aid in promoting the industry while bolstering tax revenues at the same time." The GoM panel is to yet decide on a GST rate for online gaming, horse racing and casinos. It is also considering whether online games of skill should be treated differently from games of chance. The GoM had earlier recommended a levy of 28 per cent on gross gaming revenue, but it sought more time to submit its final recommendations to the GST Council, Business Standard had reported.
Denne historien er fra September 28, 2022-utgaven av Business Standard.
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Denne historien er fra September 28, 2022-utgaven av Business Standard.
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Loser takes all
This book was published in September, three months ahead of the US presidential polls, presumably to reveal to voters the dangers of returning Donald Trump to the White House.
J&K HC asks Army to pay 46 years' rent to landowner
The High Court of Jammu and Kashmir and Ladakh recently held that the right to property now falls within the realm of human rights.
India, UK navies to develop electric propulsion for next-gen warships
The ministries of defence of India and the UK have signed a statement of intent (SoI) to cooperate in designing and developing Electric Propulsion Systems for the Indian Navy.
India backs Iskcon, tells Bangladesh to protect minorities
New Delhi hopes arrested monk will get fair trial
HAVING A BALL
Indian bowlers are winning matches and setting IPL auction records. But brands are not yet bowled over. Will Bumrah get bowlers their due?
Link UPI app to bank account with limited funds, set daily limits
Indians have lost ₹485 crore to frauds on the Unified Payments Interface (UPI) across 632,000 incidents reported until September of the current financial year, according to data from the Ministry of Finance.
Arpu gains, lower capex augur well for Airtel
Brokerages positive on stock; earnings flows may rise over next 24 mths
NIFTY LOGS BACK-TO-BACK MONTHLY LOSS
Benchmark Nifty 50 index shed 0.3 per cent in November, logging its first back-to-back monthly loss since February 2023.
Lock-up on ₹1.2 trn pre-IPO shares to lift in two months
Lock-up on shares worth nearly ₹1.2 trillion ($14 billion) belonging to 50 companies will end between now and January 31, said Nuvama Institutional Equities in a note.
Margin moderation may cap upsides for Colgate
After gaining over 15 per cent in the first half of the week, the stock of oral care major Colgate-Palmolive (India) has shed about a third of those gains.
