Nazara Technologies gets GST notice of Rs 1,120 crore

NEW DELHI: Two subsidiaries of gaming firm Nazara Technologies have received notices nearly Rs 1,120 crore the Goods and Services Tax (GST) in retrospectively for the period from FY18 to FY23. According to a stock exchange filing by Nazara Technologies on Wednesday revealed that Openplay faces a liability of Rs 845.72 crore, while Halaplay is required to pay Rs 274.21 crore.

Nazara disclosed that these claims relate to the calculation of GST based on the sums pooled by players rather than on gross gaming revenues. “Both subsidiaries are reviewing the notices with their legal counsels and tax advisors to determine their future course of action,” said Nazara.