Retrospective GST on e-gaming firms may go

The Centre has proposed to remove the “retrospective” nature of the higher Goods and Services Tax (GST) levy on the online gaming industry, by inserting an enabling provision in the Finance Bill, 2024. The provision seeks to empower the Centre, via an amendment to Section 11A of the Central GST Act, to declare any retrospective levy of GST null and void.

The move signals the Centre’s intent to give relief to the thriving sector, which has been facing a viability crisis, due to a flurry of hefty tax demands.