SC stays ₹5,712-crore GST notice sent to Paytm-owned gaming platform First Games
The Supreme Court has granted a stay on a ₹ 5,712-crore GST notice sent to fintech firm One97 Communications-owned real money gaming platform First Games, a regulatory filing said on Saturday.
The Directorate General of GST Intelligence, New Delhi had issued a show cause notice (SCN) to First Games in April.
"We hereby inform you that First Games has informed us on May 24, 2025 at 10:44 am (IST) that in the writ petition ...filed by First Games challenging the said SCN, the Hon'ble Supreme Court of India has on May 23, 2025 stayed the proceedings of the SCN," the regulatory filing said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
30 minutes ago
- Mint
Infosys shares to be in focus after DGGI closed ₹32,403 crore pre-show cause GST notice
India's second-largest IT firm, Infosys Ltd, received a goods and services tax (GST) demand closure notice on Friday, 6 June 2025. The notice relieved the company from a ₹ 32,403 crore tax order from the Director General of GST Intelligence (DGGI). 'The company has today received a communication from the Director General of GST Intelligence (DGGI) closing the pre-show cause notice proceedings for the financial years 2018-19 to 2021-22,' according to the BSE filing. The data also showed that the DGGI earlier asked for a ₹ 32,403 crore GST demand notice for the issue of non-payment of IGST under the Reverse Charge Mechanism. 'With the receipt of today's communication from DGGI, this matter stands closed,' said Infosys in the BSE filing. Infosys shares closed 0.62 per cent higher at ₹ 1,564.05 after Friday's stock market session, compared to ₹ 1,554.35 at the previous market close. The company received the GST demand closure notice after stock market operating hours on 6 June 2025. IT major shares have given stock market investors more than 126 per cent returns on their investments in the last five years and 4.55 per cent in the last one-year period. On a year-to-date (YTD) basis, the shares have lost 16.71 per cent in 2025. However, the stock is trading 3.74 per cent higher in the last one-month period. Infosys shares hit their 52-week high level at ₹ 2,006.80 on 13 December 2024, while the 52-week low level was at ₹ 1,307.10 on 17 April 2025, according to the data collected from the BSE website. The IT major's market capitalisation (M-Cap) was at ₹ 6,49,739.73 crore as of Friday, 6 June 2025. Infosys's January to March quarter results for the financial year ended 2024-25 witnessed an 11.75 per cent year-on-year (YoY) fall to ₹ 7,033 crore, compared to ₹ 7,969 crore in the same period a year ago, according to the consoldiated financial statements. The revenue from core operations for the fourth quarter rose 8 per cent YoY to ₹ 40,925 crore from ₹ 37,923 crore in the corresponding quarter of the last financial year. Read all stories by Anubhav Mukherjee
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
We're the largest gig worker employer in the country: Rapido cofounders
We're currently in over 35 cities with taxis and aim to be present in every district headquarters, says Rapido Surajeet Das Gupta Bengaluru Listen to This Article Bengaluru-based startup Rapido, which joined the unicorn club last year, has disrupted the mobility business by shifting from a commission to a subscription model for drivers across vehicle categories. It recently added taxis, prompting rivals Ola and Uber to follow suit. Rapido cofounders Pavan Guntupalli and Aravind Sanka, in an interview with Surajeet Das Gupta in Bengaluru, discuss their push to become a mass-market mobility player, ongoing goods and services tax (GST) and regulatory challenges, and the government's electric vehicle (EV) drive. Edited excerpts:
Indian Express
an hour ago
- Indian Express
After nearly 8 years, Ayodhya land circle rates hiked up to 200%
After nearly eight years, the circle rate of land in Ayodhya, where a Ram Temple was inaugurated last year, has been increased up to 200 per cent, depending on the use of land and location. While the order is effective from Saturday, a holiday, the land registry, as per the new circle rates, will begin from Monday. 'We have approved the proposal for a hike in circle rate after considering the objections we had received on our proposal circulated in August last year,' District Magistrate (Ayodhya) Nikhil Funde told The Indian Express on Sunday. On the hike, Funde said: 'The demand from the public was mostly to raise it more than our proposals in several areas. But the decision has been taken based on market rates and a survey conducted by us.' The circle rate is the district administration's assessment of land value in its jurisdiction, based on which stamp duty is fixed on sale or purchase, and based on which the administration acquires property from land owners, including farmers. On July 10 last year, The Indian Express had reported that the circle rates in Ayodhya have not been increased for the past seven years despite a surge in land transactions and the rising market value of land ever since the 2019 ruling of the Supreme Court that paved way for the construction of the Ram Temple in the town. The Uttar Pradesh Stamp (Amendment) Act, 1997, which was amended in 2015, stated that the 'District Collector, as far as possible, in every August month, will determine Rs per square metre minimum value of Agriculture/non-Agriculture land' and other immovable properties considering use of land, irrigation facilities, distance from road, market, bus station, railway station, factories, educational institutions, hospitals and government offices; its location within urban, semi-urban or rural areas; and other possibilities like distance from developed areas. Ayodhya is among 54 districts of Uttar Pradesh where the circle rate was last revised in 2017. In 21 districts, it was revised in 2023. The rates were also revised in districts adjoining Ayodhya such as Barabanki, Ambedkar Nagar, Gonda and Basti and Sultanpur. The steepest hike in the circle rate has been in areas near the Ram Janmabhoomi where the market rate of land has increased manifold since the Supreme Court's Ram Temple verdict. The highest hike of 200 per cent has been in villages like Tihura Manjha where the circle rate for 'agriculture' land since August 2017 ranged from Rs 11 lakh to Rs 23 lakh per hectare. In the latest circle rate, it has gone up to Rs 33 lakh and Rs 69 lakh per hectare. At Tihura Manjha village, the House of Abhinandan Lodha has purchased land and actor Amitabh Bachchan had signed an agreement for two plots last year. For Tihura Uparhar, the circle rate has been increased from Rs 32-71 lakh per hectare to Rs 42-95 lakh per hectare. In Shahnawzpur Majha, the rate has been increased from Rs 75-169 lakh per hectare to Rs 98-221 lakh per hectare. In Barahta Majha, the circle rate has been hiked from Rs 75 lakh- Rs 169 lakh per hectare to Rs 98 lakh- 221 lakh per hectare. At Ganja village, where the airport is located, old rates ranged between Rs 28 lakh to Rs 64 lakh per hectare. The new rates are between Rs 35 and 80 lakh per hectare. The UP Avas Vikas Parishad, which has proposed to build a township spread over nearly 1,800 acres, acquired nearly 600 acres until last March in villages such as Shahnawaz Pur Majha, Barhata Manjha, and Tihura Manjha. However, some of the farmers said the hike is not up to their expectations. 'Rates should have been increased at least 200 per cent in every village surrounding nearly 10 km of Ram Janmabhoomi. Farmers are not benefitting from the developments that are taking place in Ayodhya,' said Durga Yadav, who is fighting a legal case for an increase in circle rates in the Allahabad High Court. In last year's Lok Sabha elections, Samajwadi Party candidate Awadhesh Prasad defeated the sitting BJP MP from Faizabad parliamentary constituency, where Ayodhya is located. The Milkipur (SC) Assembly seat, vacated by Prasad, was won by the BJP later. Shyamlal Yadav is one of the pioneers of the effective use of RTI for investigative reporting. He is a member of the Investigative Team. His reporting on polluted rivers, foreign travel of public servants, MPs appointing relatives as assistants, fake journals, LIC's lapsed policies, Honorary doctorates conferred to politicians and officials, Bank officials putting their own money into Jan Dhan accounts and more has made a huge impact. He is member of the International Consortium of Investigative Journalists (ICIJ). He has been part of global investigations like Paradise Papers, Fincen Files, Pandora Papers, Uber Files and Hidden Treasures. After his investigation in March 2023 the Metropolitan Museum of Art, New York returned 16 antiquities to India. Besides investigative work, he keeps writing on social and political issues. ... Read More
