Finmin

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 involve some amount of skill could be taxed at a lower 18 percent.A final decision on the taxation on online gaming would be taken by the GST Council in its next meeting, which is likely in May…

Income tax department on Monday released a 'tax calculator' which will help an assesses decide if the new income tax regime announced in the Budget is good for him/her or if the old one is better. The tax calculator is live on the income tax department's portal. "Tax Calculator is now live! A dedicated tax calculator to check Old Tax Regime vis-à-vis New Tax Regime for Individual/HUF/AOP/BOI/Artificial Juridical Person(AJP) as per Section 115BAC can now be accessed on the IT Dept website," according to a tweet by…