Tue, Sep 10, 2024
Post the GST Council meet on Monday, Finance Minister Nirmala Sitharaman announced that the Centre has seen a 412 percent jump in revenue from the increased levy on online gaming, according to a status report submitted to the fitment committee.
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Thu, Jul 18, 2024
Nazara Techn Share Price NSE, BSE: The scrip has a 52-week low of Rs 590.85 and a 52-week high of Rs 989.55. The company has a market cap of Rs 6,793.
Wed, May 29, 2024
To save players from online gaming addiction, the government is considering adopting the Chinese formula. See complete details in this video.
Sun, Nov 26, 2023
The gaming industry in India is booming, and with it, the earnings potential for gamers is skyrocketing. In this video, we'll take the insights derived from HP India Gamign Landscape Study 2023 and explore how Indian gamers are making a living from their passion for gaming. We'll discuss the rise of esports, the importance of sponsorships, and the growing demand for gaming influencers and esports managers.
Sun, Nov 05, 2023
Krafton India CEO Sohn told PTI that India is among the top three markets for the company in terms of user base and the willingness to pay among the gamers is rising.
Tue, Oct 24, 2023
According to Joydeep Mukherjee, 28 per cent GST is something which directly hits the players more than the organisations because it is their investment which gets segregated.
Sun, Oct 08, 2023
During the 52nd GST Council meeting, states raised the issue of notices for tax demand served under the GST regime on gaming companies, with some states terming it "retrospective taxation". Chhattisgarh Deputy Chief Minister T S Singh Deo said that states like Delhi and Goa raised the issue of online gaming companies receiving a spate of GST demand notices for alleged evasion. Delhi Finance Minister Atishi said that tax notices are being sent for a much higher amount than even the estimated valuation of the gaming industry.
Sat, Sep 30, 2023
The Karnataka government on Friday promulgated an ordinance to amend the Karnataka Goods and Services Tax Act to facilitate the imposition of 28 per cent GST on online gaming.
Fri, Sep 29, 2023
India is set to implement a 28% GST on online gaming from October 1, with the consent of all states. This could mean higher costs for gamers, but it could also lead to more transparency and regulation in the industry.
Fri, Sep 22, 2023
Indian online gaming giants are in hot water as the Directorate-General of Goods and Services Tax Intelligence (DGGI) investigates alleged tax evasion totalling a staggering Rs 31,000 crore. Previously, the government alleged tax evasion of Rs 22,936 crore. Furthermore, the recent GST Council's decision to impose a 28% tax on online gaming changes the game, starting from October 1.
Wed, Sep 06, 2023
GST on online gaming: A bench led by Chief Justice of India D.Y. Chandrachud and Justices comprising Justices J.B. Pardiwala and Manoj Misra issued the notice on the special leave petition filed by the Directorate General of Goods and Services Tax Intelligence and listed the matter for hearing after three weeks.
Wed, Aug 09, 2023
MPL, the online gaming giant, has announced that it is laying off 350 employees, nearly 50% of its workforce. The GST tax hike has increased MPL's tax burden by as much as 350-400%. This has forced the company to make some tough decisions, including laying off 350 employees. This is the first major casualty of the GST tax hike for the online gaming industry.
Thu, Aug 03, 2023
The 51st meeting of the GST Council was held on August 2. The 28 per cent GST on online gaming will come into effect from October 1 and the GST Council will review the tax after six months of implementation.
As the 51st GST Council meeting stayed firm on taxing online gaming at 28 per cent on gross value collected, industry players on Thursday once again criticised the decision.
The GST Council has decided to impose a 28% tax on the full face value of bets placed on online gaming. The tax will not be levied on the winning amount, but only on the entry amount. The industry is concerned about the high tax rate, and has requested the government to review the decision after six months.
Tue, Aug 01, 2023
The government has taken a major step to regulate online content providers, including online gaming services and online advertisements. The move comes as part of the government's efforts to ensure better regulation and governance in the digital landscape.
Wed, Jul 26, 2023
GST Council meeting on 2 August. There will be a discussion on the calculation of the face value of Online Gaming. Discussion on 28% GST on entry point or token. Discussion on amendment in rules related to Online Gaming, Casino.
Wed, Jul 12, 2023
The Indian government has imposed a 28% GST on online gaming, which has been met with criticism from gamers and industry experts. The new tax rules could force gamers to limit their participation and drive them towards offshore and illegal gambling websites. The impact of the 28% GST on the Indian gaming industry remains to be seen, but it could have a significant negative impact on the growth of the industry.
How will 28% GST on online gaming affect the industry? In an exclusive interview with the top management of OnMobile Global Ltd, @AnilSinghvi_ on the sector and business outlook...
Casino and Online gaming will attract 28% GST What will happen to online gaming stocks? Know from Anil Singhvi...
The Goods and Service Tax Council on Tuesday, July 12, decided to tax online gaming at 28%. The GST Council, agreed that there would be no distinction between games of skill and games of chance.
The issue before the GoM (group of ministers) was whether to impose a 28 per cent GST on the face value of bets, or gross gaming revenue, or just on platform fees.
Tue, Jul 11, 2023
GST Council Meeting: Talking about the major decisions taken in the meeting chaired by Finance Minister Nirmala Sitharaman, the Council has approved the formation of GST Tribunal. Apart from this, IGST will not be imposed on imported cancer drugs.
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