Indian Jersey sponsorship claims another victim?

[Serpico]

Sahara, Byzus and now Dream11 

 

 

 

 

[R!TTER]

Yes it's logical if there's criminal underreporting of revenues/profits also * these gambling sites!

[bowl_out]

5 hours ago, R!TTER said:

Yes it's logical if there's criminal underreporting of revenues/profits also * these gambling sites!

They gambled on Tax authorities not coming to them 

[Mariyam]

9 hours ago, R!TTER said:

Yes it's logical if there's criminal underreporting of revenues/profits also * these gambling sites!

Its a lot more nuanced than just a case of under reporting.

 

The GST rate has been increased to 28% on these games, ie type: skill or luck based notwithstanding.

Furthermore the pre show cause notice has said that the GST is levied on every bet placed on the app and not on every deposit the company makes. Some bets win, some win big and not all convert to deposits etc. This will be contested tooth and nail.

 

Ad Hoc changing GST slabs drives away investors.