The Department of Revenue is planning to have a separate mechanism to track offshore e-gaming platforms and bring them within the ambit of the goods and services tax (GST). The mechanism in the works will ensure tighter declaration by Indian residents while making payments to these offshore applications (apps) and platforms via banking channels.
The department may also make it mandatory for foreign offshore entities to get GST registration within a specific period for tax purposes. Failing to comply would result in blocking their access to India and legal discourse for tax recovery, a senior bureaucr
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH. Subscribe To Insights Key stories on business-standard.com are available to premium subscribers only.Already a BS Premium subscriber? Log in NOW
MONTHLY ?8.3/day
?249
Select
Best Offer SMART ANNUAL ?4.1/day
?1799?1499
Opt for auto renewal and save Rs 300
Select
ANNUAL ?4.9/day
?1799
Select
What you get on Business Standard Premium?
Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app. Pick your 5 favourite companies, get a daily email with all news updates on them. Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006. Preferential invites to Business Standard events. Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more. VIEW ALL FAQs
Or
Also Read
Gaming startups form two regulatory bodies; to hold talks with govt
Paid competitive gaming growing 6x faster than overall mobile gaming: RPT
GST spurts fiscal equality: tax-GSDP ratio higher in poorer states
GST Council to discuss scope of budgetary support for units in hilly states
GST evasion of Rs 30,000 crore using stolen IDs across 16 states uncovered
Unsecured loan portfolios growth highest, credit card NPAs shoot up: Report
Rupee, govt bonds gain after lower-than-expected US inflation data
Clarificatory amendment to GST Act on online gaming in monsoon session
Want to buy popcorn with movie tickets? Here's how you can pay lower GST
G20 to discuss int'l debt architecture, more loans to developing nations