Crackdown on Offshore Gaming Firms Intensifies

The Finance Ministry has blocked 357 websites and frozen 2,400 bank accounts connected to illegal offshore online gaming firms evading GST. With Bollywood stars endorsing these platforms, the ministry urged public caution. Strict regulations are expected ahead of the IPL season to curb tax evasion.

The Finance Ministry has taken a hard stance against illegal offshore online gaming firms, blocking 357 websites and freezing approximately 2,400 bank accounts. The crackdown, carried out by GST intelligence officers, aims to address significant GST evasion by these entities.

Despite endorsements by Bollywood celebrities and cricketers, the ministry has warned the public to steer clear of these platforms. About 700 offshore e-gaming companies are under investigation for failing to register and concealing taxable income, operations that potentially threaten national security.

As the IPL season approaches, enforcement actions will become more stringent, with the ministry urging the public to use only regulated e-gaming platforms to support fair competition and safeguard personal finances.

(With inputs from agencies.)