India’s online gaming industry has billions of dollars on the line as the nation’s Supreme Court considers one of the highest-value cases in the history of the goods and services tax law.
The high court will effectively decide what GST rate applies to online games for past years, how much money is taxed, and whether a 28% rate can be applied retroactively.
The country’s tax department has demanded more than $4 billion from several online gaming companies for alleged nonpayment of the tax.
“If this demand is sustained, the entire industry will be wiped out,” said Darshan Bora, partner at ...
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