Cyprus-based company targeted for illegal online gambling and GST tax avoidance

Crackdown on a Cyprus-based company for online gambling and GST Tax avoidance. A firm with its headquarters in Mumbai and registration in Cyprus was penalised by India’s Directorate General of GST Intelligence for operating an online gambling and betting website.

The Directorate General of GST Intelligence has taken action against a Cyprus-based company known as “Parimatch” that was operating illegal internet gaming and betting services in India. A male suspect has also been detained

The company was secretly operating in an area where it is against the law to gamble or place bets in India. Due to the company’s lack of local registration, India was forgoing crores in GST as a result of the massive sums of money being transferred out of the country.

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