Indian government gave a big shock to the gaming companies. According to the reports, online gaming companies in India are now facing tax notices totaling around Rs 1 lakh crore. This development follows the government’s decision to apply a 28 percent GST on the revenues of online gaming firms, as well as horse racing and casinos.
According to a government source cited in the report, tax authorities have issued notices to several gaming companies, seeking approximately Rs 1 lakh crore in response to alleged tax evasion.
In the past month, a number of online gaming firms, such as Dream11 and Gameskraft, have received show-cause notices over alleged evasion of taxes.
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