Dear Ripanshu

Greetings for the Day!

An Online gaming company has been served with one of the biggest notice ever issued in GST regime on any gaming company.  Such high tax demands will also empower officers to initiate other proceedings related to attachment of property and prosecution. Intelligence Wing show cause claims that the same is liable to GST at 28% on the 'face value' of collections made.

 

Such manganous tax demand would have an implication for entire industry, whereby we could see Pan - India ripple effect on 100s of online gaming companies. 

Cities like Mumbai, Bangaluru, Ahemdabad and Gurugram having quite a few online gaming companies may soon pent up the investigation efforts for similar companies.

Best regards,
AMRG Team

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AMRG & Associates Chartered Accountants firm was established in INDIA in 1984 and has currently become one of the leading chartered accountants firms in North India. The firm operates from its offices situated in Delhi, Mumbai and Chandigarh and offers its clients a full range of services including financial and business advisory, tax and regulatory, and risk advisory services.

AMRG & Associates has a client base of more than 200 companies & individuals. The firm's approach to service delivery helps to provide value-added services to clients. Our differentiation is derived from a rapid performance based, industry-tailored and technology-enabled business advisory services delivered by talented professionals in the country.
 
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