Tax and Accounting Compliance within the Online Gaming Sphere!! How it Started in CGST ACT ➡SCHEDULE III of the CGST Act contains “Activities or Transactions which shall be treated neither as a Supply of Goods nor a Supply of Services” #Old Para 6 of SCHEDULE III =Actionable claims, other than lottery, betting and gambling #New Para 6 of SCHEDULE III=Actionable claims others than except Specified Actionable Claim ➡This means Specified Actionable Claim will comes under perview of GST Examples of Actionable claim-(1) betting (ii) casinos (iii) gambling (iv) horse racing (v) lottery or (vi) online money gaming ➡This way all Gaming Industries were entered in preview of GST ➡ Now thereis no game of skill for online gaming industries ie no benfit of 18% #CA #DPSA #Online Gaming #Finance #Startups #Taxation
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