The decision to increase the tax rate on online gaming demonstrates that the GST regime still exhibits stratification, deviating from the original aim of uniformity.
It will deter consumers from using legitimate platforms & may promote betting and gambling, they add. Industry contributed more than Rs 2,200 cr GST in 2022.
Some industry representatives said the tax would eat into earnings despite Finance Minister Nirmala Sitharaman saying the decision was taken after consultation with states.
Finance Minister Sitharaman announces decision taken at GST Council meet, adds cancer drugs, medicines for rare diseases and food products for special medical purposes exempt from GST.
Imagine, playing an online card game online and paying 28 per cent GST on each buy-in. Such a tax regime would defeat the purpose of enabling IT Rules.
The draft amendments envision an obligation for online gaming intermediaries to verify identity of all customers when they register new account for playing games.
CM Stalin says MLAs can't have difference of opinion over 'gambling that kills people' and 'interferes with studies', adds that online gambling has claimed 41 lives.
The view that bureaucracies are bloated with far too many employees preying on taxpayers money is a widely held myth. Research shows how significantly understaffed the Indian state is.
The Centre is considering an increase in the National Company Law Tribunal's bench capacity, while the Standing Committee of Finance suggests fast-track courts.
The helicopters produced by Lockheed Martin are known as ‘submarine hunters’. India ordered 24 of these aircraft in 2020 to replace the Sea King helicopters. 15 have been delivered till date.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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