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Nazara Technologies, an online gaming and sports company, disclosed on Wednesday that two of its subsidiaries have been issued show cause notices regarding GST, amounting to a total liability of Rs 1,120 crore, according to its filing to the exchanges. #NazaraTechnologies #GST…
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🚨 Tech 3 Today One quick thing: Nazara Tech subsidiaries receive Rs 1,120-cr GST demand notice In today’s newsletter: India Inc slams Karnataka's job quota bill Milky Mist eyes 20,000 crore IPO valuation Google, MeitY to train 10,000 Indian startups in AI
Nazara Technologies, an online gaming and sports company, disclosed that its subsidiaries, Openplay and Halaplay, have received GST demand notices totaling Rs 1,120 crore. Openplay received a show cause notice for a proposed liability of Rs 845.72 crore for FY18-23, while Halaplay's proposed tax liability is Rs 274.21 crore for the same period. The claims are related to the calculation of GST based on the sums pooled by players as opposed to gross gaming revenues.