Even EdTech companies are finding it difficult to grow while gambling companies are tripling their revenue!
And the best part, it is profitable with ā¹100 crore+ profit
Any Idea on why online gambling has 28% GST? Those sectors are being killed in the name of taxes.Would You do a startup in such sectors with higher taxes?
9 replies3 likes
CA Dipika Pathak
StealthĀ ā¢Ā 7m
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
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2 replies6 likes
Mr Z
StealthĀ ā¢Ā 6m
What if there was 0% GST in India?š¤
But first, what is GST?š¶
It was introduced in 2017. It replaced taxes and aimed at creating a single national market.
GST rates vary from 0% to 28%, depending on the product or service.
If this thing happens then middle class get so much advantages š¤Æš¤Æ
Example - Calculation (For Petrol)
Base Price: ā¹50 per liter
Dealer Commission: ā¹3 per liter
GST (28%): On base price + dealer commission, i.e., 28% of (ā¹50 + ā¹3) = ā¹14.84Total P
India's online retail market is valued at $70 billion and is expected to grow to $325 billion by 2030. It makes up about 7% of the country's total retail market.
Whatās happening here why 28% GST on two wheelers and cements.Even drinking water has 18% š¤¦āāļøNow affording bikes and building homes will get expensive what Will middle class people do.Seriously I donāt know why is this happening
GST Thread 2
What GST brings along with it -
1. Value added tax and no cascading of taxes - GST is only on the value added by the manufacturer and being a value added tax at each stage it avoids double taxation
Example - If I purchase plastic fr
Me: how much for the kurkure?
Shopkeeper: 20 only/-
Me: sent ā¹2,021 inr on your scanner!
Shopkeeper: sent ā¹2,001 inr back!
Government crying in the corner for 18% GST
Tax and Accounting Compliance within the Online Gaming Sphere!!
How it Started in CGST ACT
ā”SCHEDULE III of the CGST Act contains āActivities or Transactions which shall be treated neither as a Supply of Goods nor a Supply of Servicesā
#Old Para 6
Does any one say how a product is being valued.when a customer sees it something on a online platforms vs local store, which and what make the major difference between them and how they are valued?also if there is no value means how do we create for