Top Court Halts Hefty GST Notices, Brightens Future for Online Gaming Industry
The Supreme Court has temporarily halted GST showcause notices worth over Rs 1 lakh crore issued to online gaming companies and casinos amid allegations of tax evasion. This comes as the government recently enforced new registration rules for overseas gaming entities in India, sparking legal tussles in multiple courts.
- Country:
- India
The Supreme Court, on Friday, intervened in the tussle between online gaming companies and GST authorities, staying showcause notices claiming tax evasion to the tune of over Rs 1 lakh crore. The bench of Justices J.B. Pardiwala and R. Mahadevan underscored the need for a thorough hearing before any further action.
The GST department, represented by Additional Solicitor General N. Venkataraman, noted that several showcause notices are nearing expiration in February, pushing urgency in the proceedings, which are deferred until March 18.
The legal battle focuses on the amended GST law, effective from October 1, 2023, mandating registration of foreign gaming companies in India, and the 28% GST on bets made on online platforms, a move heavily contested by the gaming industry, prompting interventions from numerous high courts across the country.
(With inputs from agencies.)
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