Summary: Nazara Technologies, a Mumbai-based gaming company, has received a GST demand notice of ₹5.68 crore from Maharashtra tax authorities. The notice includes ₹2.84 crore in unpaid taxes and interest, along with an additional penalty of ₹2.84 crore. The demand stems from the non-receipt of export proceeds within the required time frame. The company plans to appeal the order within the prescribed time limits.
Mumbai-based gaming company Nazara Technologies has received a Goods and Services Tax (GST) demand notice of ₹5.68 crore from the tax authorities in Maharashtra. The notice comprises ₹2.84 crore in taxes and interest on the unpaid tax, along with an additional penalty of ₹2.84 crore.
The company stated that the tax demand was issued due to the non-receipt of export proceeds within the stipulated time period. Nazara Technologies has announced its intention to file an appeal against the order within the prescribed legal timeframe.
This development comes amid increasing scrutiny of gaming companies and their taxation structures in India. The gaming sector has been under regulatory review, with authorities closely examining tax compliance and revenue recognition practices.
Nazara Technologies, a leading player in India’s gaming industry, remains optimistic about resolving the issue and ensuring compliance with all applicable tax regulations. The company is expected to provide further updates on the appeal process in due course.
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