Partial relief on tax for online gaming firms? Find out
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After talking tough last time around, the government has sought to provide partial relief to online gaming companies today. Government has decided to levy taxes on online gaming companies on the total funds deposited to play online games and not on every bet, Reuters quoted Finance Minister Nirmala Sitharaman as saying on Wednesday.Last month, the government said it had decided to impose 28% tax on funds that online gaming companies collect from their customers for every bet. The decision to impose a 28 per cent tax on the full face value of bets placed on online games will be implemented from October 1 even though there was demand for a review from states like Delhi and Goa, Finance Minister Nirmala Sitharaman said on Wednesday. The GST Council -- the highest decision making bod...