The regional unit of Directorate General of Goods and Services Tax Intelligence (DGGI) has detected tax evasion worth crores by a fantasy sports private company based in Jaipur. Incriminating documents have been seized by the DGGI officials while the investigation is on in the case.
The officials of GST intelligence received specific information about M/s My Team11 Fantasy Sports Pvt Ltd, Jaipur (My Team11) which is engaged in organising online skill based Fantasy Sports Game including cricket which falls under the purview of GST. It was learnt that the company was not paying GST on the amount collected by them through games.
Acting upon the said intelligence, the officers of DGGI conducted search operation on various premises of My Team11 in Jaipur on Thursday and seized various incriminating records pertaining to the evasion of due GST.
“During the course of search, My Team11 has voluntarily deposited Rs 1.53 crore in anticipation of their GST liability which comes to Rs 7.0 crore as per the preliminary inquiry. Further investigation in this case is under process,” said a DGGI official.
Fantasy sports games are games which involve user’s skills and drafting his fantasy teams based on certain conditions from a list of players scheduled to play live games on a given day. The users pay an amount to join a contest online.
The companies operating such games are avoiding to pay GST as per schedule. This is probably first case in Rajasthan where a fantasy sports company is on the radar for evading tax.
The regional unit of DGGI has detected tax evasion worth crores by a fantasy sports private company. Officers of DGGI conducted search operation on various premises of My Team11 in Jaipur on Thursday and seized various incriminating records pertaining to the evasion of due GST.