Partner at D P S A &... • 1y
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
Partner at D P S A &... • 1y
Continue-Tax and Accounting Compliance within the Online Gaming Sphere!! Value of supply of online gaming including online money gaming Value =Total paid or payable to or deposited with the supplier by way of money or money's worth, including virtu
See MoreHey I am on Medial • 9m
Start an Online Gaming Center Starting an online gaming center has been yet another flourishing and profitable business that a person below the age of 21 can successfully launch. Gamers all over the world visit gaming websites to register and play v
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SucSEED Ventures • 6m
Between 2022 and 2024, the Indian government banned 1,298 online gaming platforms due to concerns regarding addiction, financial hazards, and non-payment of taxes. The Ministry of Electronics and Information Technology (MeitY) imposed stricter contro
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