Atishi said an “unstable, erratic tax environment” will deter foreign investors in the gaming industry
New Delhi:
Delhi Finance Minister Atishi today said tax evasion notices worth Rs 1.5-lakh crore to online gaming companies will finish them and vowed to seek their withdrawal at the GST Council meeting during the day.
She said the sector employed over 50,000 youths and attracted Rs 17,000 crore foreign investments, therefore it is important to withdraw the notices to protect the industry.
An “unstable, erratic tax environment” will deter foreign investors in the online gaming industry and impact the overall start-up ecosystem in the country, she said.
GST Council decisions in the past including the 28 percent tax on online gaming industry adversely impacted the industry, she said.
The GST Council, chaired by Union Finance Minister and comprising state ministers, will meet in Delhi on Saturday.
In the previous meeting on August 2, the council had approved amendments to the Goods and Services Tax (GST) laws to provide clarity on the taxation of casinos, horse racing and online gaming.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
