CURRENT AFFAIRS

2022

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
CBIC initiated investigations into GST evasion of what amount by gaming companies?
A
Rs. 30000 Crore
B
Rs. 28000 Crore
C
Rs. 44000 Crore
D
Rs. 23000 Crore
Explanation: 

Detailed explanation-1: -CBIC initiates investigations into GST evasion of Rs 23,000 crore by gaming companies. The Central Board of Indirect Taxes and Customs (CBIC) has initiated investigations into around 23 thousand crore rupees in Goods and Services Tax evasion by gaming companies.

Detailed explanation-2: -A flat GST rate of 28% to be made applicable on all online games, including games of skills and chance. The rate will be chargeable on ‘gross revenue’ basis that is, on the total stake value and not on the platform fee paid by the user.

Detailed explanation-3: -The genesis of the introduction of GST in the country was laid down in the historic Budget Speech of 28th February 2006, wherein the then Finance Minister laid down 1st April, 2010 as the date for the introduction of GST in the country.

There is 1 question to complete.