GST Authorities Issues INR 21,000 Cr Notice To GamesKraft
Goods and services tax authorities issued a notice of INR 21,000 crore to GamesKraft a Bengaluru-based gaming company regarding tax, interests and penalty, The matter has been put on stay by the Karnataka High Court
Bengaluru-based GamesKraft has received a notice of INR 21,000 Crore from the Goods and Services Tax authority regarding the case of tax evasion, according to the media reports. In a similar scenario last year GST authorities conducted raids on the company's premises and attached INR 460 crore worth of property and bank accounts.
The media report says that the INR 21,000 crore notice includes taxes, interests and penalties. The total tax was calculated by applying the GST rate of 28 per cent. However, The Karnataka High Court has put a stay on the matter till Dussehra Holidays.