Ankur Gupta, Practice Leader, Indirect Tax at SW India said, “While the council hasn’t clarified on online gaming, it is good to have a clarity on valuation of corporate guarantee. The same should end the pending disputes with the authorities and bring relief to taxpayers. Taxing the ENA for industrial use will increase the cost of production and by introducing a new levy it was important to explain the rationale behind it which is why Honourable FM gave the background on ENA and its taxability. Also With GST council ceding the right to levy GST on ENA, we might also see some states imposing VAT on ENAs.”
