The Finance Ministry is considering classifying online gaming into categories of skill and chance, and levying a differential rate of GST, an official said. Online games where winning is dependent on a certain outcome or is in the nature of betting or gambling would attract 28 percent Goods and Services Tax (GST), while those which … Read more
The government plans to digitise over 3,100 crore documents as part of the phase-III of the e-Courts project which is likely to be formally launched soon, sources said on Tuesday. On the table is also a plan to set up solar power facilities for ensuring seamless availability of information communication (ICT) infrastructure at a cost … Read more
Finance Minister Nirmala Sitharaman has said India’s G20 presidency aims to develop a common framework for all countries to deal with risks associated with cryptocurrencies in the wake of the recent shocks witnessed in the crypto market. The last year’s episode of FTX‘s bankruptcy, and its spat with Binance triggered a huge sell-off in the … Read more
India, under its ongoing G20 Presidency, is spearheading the process of formulating crypto laws that would work uniformly on an international level and make the sector safer against crimes and misuse. In a fresh development, Indian finance minister Nirmala Sitharaman has disclosed that the three-month period between April and July will be crucial in giving … Read more
Indian authorities have confiscated funds worth Rs. 953.70 crores from busting crypto-related crimes in recent years, finance minister Nirmala Sitharaman told the Lower House on Tuesday, March 9. India, which is currently working with the G20 nations to draft uniform international crypto guidelines, has bracketed the crypto sector inside tax laws to keep some track … Read more
Prime Minister Narendra Modi on Friday said India’s digital payments ecosystem has radically transformed governance, financial inclusion and ease of living in the country. With the aim to foster global economic cooperation, the first G20 Finance Minister and Central Bank Governors (FMCBG) meeting is being held in Bengaluru on Friday. Union Finance Minister Nirmala Sitharaman … Read more
India expects to manufacture more mobile phones this year after the government eliminated import tariffs on some components used to assemble high-end phones from global companies such as Apple, a tax official told Reuters on Friday. Indian mobile phone exports nearly doubled year-on-year to $5 billion (roughly Rs. 40,960 crore) between April-October in 2022, primarily … Read more