Dream11 has resorted to legal action in response to the show cause notice received from tax authorities. The notice has been issued for allegations of goods and services tax allegations.
As per the report published by Moneycontrol, Dream Sports, its parent company, has issued a writ petition in the high court of Bombay. It was issued to contest the show cause notice issued by tax authorities that has accused the startup of evading GST and failed to pay 28% on the value of bets.
The tax allegations against the company are estimated at the amount of INR 40,000 Crores. If this claim is confirmed, this will become the largest claim in indirect taxation history.
In the recent fiscal year, Dream11 has the annual net profit of almost INR 142 crores.
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