Union Budget 2023-24: Govt To Clarify Online Gaming Taxation

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The story "Union Budget 2023-24: Govt To Clarify Online Gaming Taxation" was covered 1 months ago by Inc42, a news publisher based in India.

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Inc42 1 mo ago

Union Budget 2023-24: Govt To Clarify Online Gaming Taxation - Inc42

Quick Summary:

In a report, the task force proposed the formation of a national AVGC Mission with a dedicated budget outlay to promote the sector.

The government is also tightening the Tax Deduction at Sources (TDS) norms and winnings from online gaming could come under stringent tax scrutiny.

During the Winter Session in December 2022, the government told the Parliament that the Central Board of Indirect Taxes and Customs (CBIC) is investigating gaming companies for alleged GST evasion of nearly INR 23,000 Cr.