Illegal betting and gambling: Tax authorities losing Rs 2 lakh crore annually, says report

The illegal sports betting market in India is estimated to receive an inflow of Rs 8,20,000 crore ($100 billion) per year, resulting in a loss of about Rs 2 lakh crore to tax authorities. Factors such as digital infrastructure growth, smartphone usage, and the expansion of athletic events have contributed to this growth. The report suggests strict implementation of the new GST regime and establishing a task force to monitor illegal offshore betting activities to restrict such activities. https://ift.tt/tsGNEUH