Business Standard

Real life's Good and Simple Tax

Tax revenue could drain away if rampant GST-free activity takes place in cyberspace

Virtual universe
Premium

A still from EVE Online’s virtual universe. Photo: EVE Online

Ashish Sharma
On July 1, the Indian government rolled out the Goods and Services Tax, or GST. Branding it as Good and Simple Tax to assure real-life players that the new taxation system wouldn’t be damaging to real-life fun, Prime Minister Narendra Modi said GST was not just an economic reform but a social reform that would nudge people towards honesty and benefit poor the most. Okay, but this social reform doesn’t really concern me because, although it casts a wide tax net on goods and services, it leaves out the one thing I care about most: virtual good. 

As a result,

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in