Crackdown on Cyprus-based firm for online betting, evading GST payment

Crackdown on Cyprus-based firm for online betting, evading GST payment The Directorate General of GST Intelligence has taken action against a company registered in Cyprus going by the name of 'Parimatch', which was running online betting and gambling operations in India.

A man has also been arrested in the case. Although it is illegal to engage in gambling or place bets online in India, the company was still running these operations in a discreet manner.

Since the company is not registered in the country, a large amount of Indian money was being routed and sent abroad, as a result of which India was losing crores of GST.

According to officials in the know of the matter, Parimatch not only deals in online gambling and betting but it is also associated with football and kabaddi leagues in India.

During the investigation, the Directorate General of Goods and Service Tax Intelligence also found that the money of some of the country's eminent leaders and Bollywood celebrities were also parked with the company. The investigation is underway.