Welcome you to the Thirty Second edition of DevMantra Times for the month of October 2023.While gaming emerged as the future of the Virtual World,Government’s decision to levy a uniform 28% tax on full face value for online gaming, casinos, and horse racing will undoubtedly disrupt the exponential rise of the gaming industry. Further, ITC blocked on Corporate Social Responsibility under section 17(5) of CGST Act, 2017.
Economic Updates States’ Borrowing Cost Soars To 23-week High Of 7.56%
The borrowing cost for Indian states has increased by 10 basis points to 7.56% at the first weekly debt
auction of the third quarter. This is the highest rate in the past 23 weeks. Despite a decline in the average tenor to 13 years, the weighted average cost has risen. Additionally, the spread between the cut-off of 10 year state bonds and the new 10-year G-Secs yield has also increased slightly.
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