new delhi, May 20 -- Online gaming companies received a big blow last year, when the government issued notices for over Rs.1 lakh crore in tax from their earlier earnings. While the matter has ended up in the Supreme Court, the federal indirect taxes body GST (goods and services tax ) Council now plans to consider the impact of the tax demand on the industry's viability, two people aware of the matter said.
Central and state GST officials are examining the grievances of online gaming companies and their request for relief from the tax notices issued for the period till October 2023, totalling over Rs.1.12 lakh crore, across 71 cases, the people said on the condition of anonymity. Under GST laws, penalty can match the tax specified in the n...