Projections of such taxation notices come a day after Mumbai-based Sporta Technologies, which runs the popular fantasy gaming platform Dream11, filed a writ petition in the Bombay High Court appealing retrospective show-cause notices by the DGGI for FY18 and FY19.
Three senior lawyers who represent top online gaming firms said the DGGI is preparing notices across various firms in the industry, which include Games24x7, Head Digital Works, Junglee Games, Baazi Games and Mobile Premier League. Smaller firms such as WinZO are also on the list of firms that are likely to receive goods and services tax (GST) demand notices from the DGGI in the coming weeks, they said.
“Dream11 is in the process of receiving intimations for FY20 to FY22, which are likely to see compounding tax claims from the DGGI. The tax claim for the final year is likely to reach ₹40,000 crore, with a cumulative tax claim for these years amounting to ₹55,000 crore," one of the lawyers said, requesting anonymity.
Denne historien er fra September 27, 2023-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra September 27, 2023-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
India in economic sweet spot, inflation to moderate: Moody's
India's economy is in a sweet spot and its inflation is expected to moderate despite a temporary spurt, Moody's said, projecting optimism about the country's growth prospects despite recent underwhelming data.
Incentive engine to drive modern ships
Subsidies for green, high-tech ships under ₹18,000 cr policy
Cement firms wage war on costs as competition soars
India's cement makers who once flexed their pricing muscles are caught in a bruising price war, eroding margins at a time of rising demand.
Saudi Arabia doesn’t have enough money for its futuristic city
The giant futuristic planned city of Neom is proving a headache for Saudi Arabia. Costs are up, schedules are delayed, and in recent days the world’s largest construction project replaced its chief executive of six years.
EV adoption is a marathon, not a sprint: Audi India
The slowdown in electric vehicle (EV) sales is temporary, and the industry will grow over time, Audi India head Balbir Singh Dhillon said, pointing to the need for extensive charging networks and supportive government policies.
India's trade gap with China soars in Apr-Oct
The country's green transition increases reliance on Chinese imports
14 nations eye India's generic drug model
Countries will specify their requirements, with HLL and MEA coordinating with them for the pharma exports
India urges $1.3 tn annual climate grant
Intervening on behalf of like-minded developing countries (LMDCs), India said that developed countries need to commit to provide and mobilise at least $1.3 trillion every year in the New Collective Quantified Goal (NCQG) till 2030.
Over 600 mn cyberattacks daily, AI can secure devices
Microsoft is developing a password-free authentication process to eliminate the risk of breaches
Small businesses ramping up cybersecurity, thanks to AI
Rising AI adoption is helping cybersecurity providers hike their marketable base in India
