Online gaming companies are in limelight these days. Actually, the government has decided to impose 28 percent GST on online gaming, horse racing. Many companies also lodged a protest against this decision. Now in the new case, the government has come to know that these companies have deposited less tax amount of 45000 crores, not one or two crores. How did this whole game happen and what is the matter. Let's know,
The Central Board of Indirect Taxes and Custom Department ie CBIC audited these companies. In this audit, it was found that these companies have committed irregularities in depositing GST amount from the year 2017. Online gaming companies have to pay 18 percent GST first.
45000 crore less tax deposited
According to CBIC since GST has been implemented. Since then till now the gaming industry was not depositing as much tax as it is due. In the internal investigation of CBIC, it was found that 45000 crore less tax has been deposited in these companies. These companies have not paid the tax liability that was due on these companies. Now that the government has imposed 28 percent GST on this industry. In such a situation, CBIC investigated that how much liability has been recovered so far. This matter has come to the fore in this investigation.
DGCI will issue notice
Directorate General of GST Intelligence i.e. DGCI is planning to issue notices to these companies after such irregularities come to the fore in the investigation. The online gaming business in India has grown rapidly. Especially the business of money making gaming. It has been found in the government investigation that in the year 2017, tax liability of 50,000 crores was made on these companies. Out of which these companies have deposited tax of only 5000 crores. That means a scam of 45000 crores has been done. Now the tax authority is preparing to clamp down on them to recover the pending liability.
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