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Paytm gets relief as Supreme Court stays Rs 5,712 Cr GST notice
Entrackr
·
2m ago
Medial
Paytm gets relief as Supreme Court stays Rs 5,712 Cr GST notice. In its order, the apex court directed, “Further proceedings of all the impugned show cause notices shall remain stayed till the final disposal of the main matter along with all the matters which are tagged.” The Supreme Court of India has stayed the proceedings of a Rs 5,712 crore GST Show Cause Notice (SCN) issued to First Games Technology Private Limited, a subsidiary of One 97 Communications Ltd (Paytm). Paytm shared the update in a regulatory filing on May 24, after the Supreme Court issued an interim order on May 23. The order came in response to a petition by First Games, which challenged a GST notice from the Directorate General of GST Intelligence (DGGI) for the period from January 2018 to March 2023. In its order, the apex court directed, “Further proceedings of all the impugned show cause notices shall remain stayed till the final disposal of the main matter along with all the matters which are tagged.” The stay gives Paytm’s gaming arm temporary legal relief and more time to defend its case without facing immediate penalties. Earlier, Paytm said the notice is part of an ongoing issue in the online gaming industry. The disagreement is about GST being charged at 28% on the full entry amount, while gaming companies believe it should be 18% only on their actual earnings from platform fees. The SCN is part of a broader industry-wide probe by the GST department, which has issued similar notices to several gaming companies. The matter is being closely monitored by stakeholders across the online gaming sector. Paytm's operating revenue fell by 16% year-on-year to Rs 1,911 crore in the fourth quarter of FY25, down from 2,267 crore in the same quarter of FY24. However, the Noida-based company narrowed its losses to 23 crore in Q4 FY25, a 96% reduction from 536 crore in Q4 FY24.
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Online Gaming GST Row: SC Stays ₹5,712-Crore Demand Against Paytm’s First Games
OutlookIndia
·
2m ago
Medial
The Supreme Court has stayed a ₹5,712-crore GST demand against Paytm's First Games, a real-money gaming platform. This dispute involves the classification and taxation of real-money gambling platforms under GST, impacting the broader online gaming industry. First Games challenged a retrospective GST notice, seeking relief on the GST rate applied to platform fees versus total bets. The issue highlights ongoing controversies about GST categorization and taxation in the Indian online gaming sector.
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Paytm’s First Games faces Rs 5,712 Cr GST demand notice
Entrackr
·
3m ago
Medial
Paytm’s First Games faces Rs 5,712 Cr GST demand notice First Games Technology Private Limited, a subsidiary of One 97 Communications Limited, has received a show cause notice from the Director General of GST Intelligence, Delhi (DGGI). According to a disclosure filed by Paytm with the National Stock Exchange (NSE), the notice proposes a liability of Rs 5,712 crore, along with applicable interest and penalties, for the period January 2018 to March 2023. The company stated that the notice pertains to an ongoing matter in the online gaming industry over the past 18 months, where GST liability has been calculated at 28% on the total entry amount, instead of 18% on the platform fees (revenue) collected by gaming companies. According to the disclosure, First Games will file a writ petition challenging the show cause notice (SCN), opposing the retrospective application of the October 1, 2023, GST amendment and earlier GST interpretations. It will also seek interim relief similar to that granted to others in the gaming industry. Paytm stated that the SCN will not impact its operations, as the carrying value of its investment in First Games was already nil in Paytm’s consolidated financial statements as of March 2024. Last month, Paytm also received a show cause notice from the Directorate of Enforcement (ED) against certain allegations attributed to Little Internet Pvt Limited (LIPL) and NearBuy India Pvt Ltd (NIPL). The development comes ahead of Paytm’s Q4 results. During the third quarter of the previous fiscal year (Q3 FY25), its revenue from operations stood at Rs 1,828 crore, with a loss of Rs 208 crore in the same period.
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Infosys gets relief on GST as DGGI closes Rs 32,400 Cr pre-show cause notice
YourStory
·
1m ago
Medial
Infosys received relief as the Director General of GST Intelligence closed pre-show cause notice proceedings against it for alleged GST dues of Rs 32,403 crore for FY2018-19 to FY2021-22. The issue pertained to services from overseas branches. Infosys maintained that GST was not applicable on such expenses and had complied with regulations. This closure ends a major GST dispute for the company, which had earlier asserted eligibility for GST credit or refunds.
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GST Battle: Online Gaming Companies' Supreme Court Test
Money Control
·
1y ago
Medial
Online gaming companies and federations are taking their battle against crippling financial notices related to Goods and Services Tax (GST) to the Supreme Court. They are seeking relief from the financial burden imposed by the GST regulations. The Supreme Court will be hearing their pleas as these companies face a significant challenge in dealing with the GST matter.
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Dream11 withdraws plea challenging Rs1,200 cr tax notice
Livemint
·
1y ago
Medial
Fantasy sports company Dream11 has withdrawn its petition challenging notices of alleged tax evasion amounting to ₹1,200 crore in the Bombay High Court. The state goods and services tax (GST) authority had withdrawn its show cause notice on Dream11 as the Central GST authorities were pursuing the matter in the Supreme Court. The gaming company was asked to pay a 28% tax on its gross value, with the company arguing that online fantasy sports gaming predominantly involves skill and not gambling.
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Tata Steel gets show cause notice over input tax credit of Rs 1,000 cr availed during FY19-23
Economic Times
·
1m ago
Medial
Tata Steel received a show cause notice from tax authorities for allegedly irregularly availing input tax credit worth Rs 1,000 crore between FY19 and FY23. The notice demands explanation for GST recovery of Rs 1007 crore. Tata Steel has already paid over Rs 514 crore in GST. The company believes the notice lacks merit and plans to address the issue through proper channels, asserting no financial impact from the notice.
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SC stays order quashing ₹21,000-crore GST notice to Gameskraft
BQ Prime
·
1y ago
Medial
The Supreme Court has halted the enforcement of a Karnataka High Court decision that invalidated a ₹21,000-crore show-cause notice issued by the Directorate General of GST Intelligence (DGGI) to Gameskraft Technologies. According to the DGGI, Gameskraft has amassed ₹70,000 crore in betting funds from approximately 45 lakh players over five years. The DGGI also argued that, based on a Supreme Court ruling, games played with stakes are liable to GST.
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SC stays GST notices worth over Rs 1 L Cr against online gaming firms for tax fraud
YourStory
·
6m ago
Medial
The Supreme Court has stayed GST authorities' showcause notices, valued at over Rs 1 lakh crore, against online gaming firms over alleged tax evasion. Justices J B Pardiwala and R Mahadevan ruled that all proceedings against these companies remain paused, pending further hearing. The GST law was amended in October 2023 to require foreign online gaming firms to register in India, with a 28% GST on bets. Various firms challenged these demands, and the Supreme Court consolidated cases for review.
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OYO vs Jaipur Resort: Hospitality Giant Gets Breather as HC Flags Gaps in Samskara’s Case
OutlookIndia
·
3m ago
Medial
The Rajasthan High Court issued a notice to Madan Singh Jain, Director of Samskara Resort, for misleading claims against OYO concerning a GST liability of Rs 2.66 crore. The court criticized the resort for failing to provide essential documentation, possibly trying to divert attention from its own tax issues. OYO was granted protection from coercive actions and initiated defamation proceedings against Jain. The court also noted the GST department sought data from the resort, not OYO.
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Nazara Technologies gets Rs 2.83 crore GST show cause notice
Economic Times
·
1y ago
Medial
Nazara Technologies, an online gaming and esports company, has received a show cause notice from the Directorate General of GST Intelligence (DGGI) for a GST demand of Rs 2.83 crore. The demand is related to the export of certain services for which Nazara did not pay GST. The notice states that as export proceeds have not been received due to a force majeure event, the services cannot be treated as exports, and the company is responsible for paying IGST at 18%. Nazara plans to file its response to the notice within the prescribed timelines.
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