The GST intelligence authorities have blocked 357 illegal online gaming websites and seized around 2,400 bank accounts in a significant move against foreign online gaming companies conducting unauthorized operations in India.
The Ministry of Finance has issued this information and urged the public to be vigilant about such platforms.
Reports indicate that these companies promote their operations through Bollywood celebrities, cricketers, and social media influencers to lure unsuspecting users. The Ministry advises citizens to refrain from associating with these platforms.
The Directorate General of GST Intelligence (DGGI) has been closely monitoring around 700 foreign e-gaming companies for evasion of GST. These companies reportedly operate using fake bank accounts to bypass legal and tax obligations. In two separate cases, the DGGI has seized 2,400 bank accounts and restricted withdrawals worth approximately ₹126 crores.
According to reports, the Indian real-money gaming sector witnessed a growth of 28% between 2019-20 and 2022-23. By 2030, its revenue is projected to reach $7.5 billion, making it a leading global market.
