Online gaming platforms face Rs. 45,000cr retrospective tax liability
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Online skill-based gaming platforms in India are facing a potential tax demand of Rs. 45,000 crore. The Central Board of Indirect Taxes and Customs (CBIC) has discovered that these entities have underpaid taxes since 2017, paying only 18% tax on gross gaming revenue instead of the prescribed 28%, the Economic Times reported. A senior CBIC official has disclosed that the gaming industry's underpayment amounts to Rs. 45,000 crore since GST implementation.