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Online Gaming Industry

Huge market for gaming, Indian youth should lead in producing games: PM

Huge market for gaming, Indian youth should lead in producing games: PM

Thu, Aug 15, 2024

Prime Minister Narendra Modi urges Indian professionals to lead and innovate in the global gaming market, leveraging the country's rich cultural heritage. Discover his vision for India’s role in the gaming industry and how he envisions Indian youth dominating both gaming and game production.

GST Council Meeting: States Raise Issue Of Retrospective Taxation On Online Gaming Companies

GST Council Meeting: States Raise Issue Of Retrospective Taxation On Online Gaming Companies

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.

28% GST on Online Gaming to Come Into Effect From Oct 1 | What Does It Mean for You?

28% GST on Online Gaming to Come Into Effect From Oct 1 | What Does It Mean for You?

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.

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28% GST on Gaming: Online Gaming Companies in India Caught Evading Rs 31,000 Crore in Tax

28% GST on Gaming: Online Gaming Companies in India Caught Evading Rs 31,000 Crore in Tax

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.

Online gaming giant MPL cuts workforce by 50%; Is GST tax hike to blame?

Online gaming giant MPL cuts workforce by 50%; Is GST tax hike to blame?

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.

GST Rates for Online Gaming to Remain Unchanged, Delhi, Goa, & Sikkim Seek GST Rate Review:

GST Rates for Online Gaming to Remain Unchanged, Delhi, Goa, & Sikkim Seek GST Rate Review:

Wed, Aug 02, 2023

Big news on GST Council meeting, Agreed to maintain online gaming rates, Delhi, Goa, Sikkim demand review of 28% rate

Government brings online gaming and online advertisements under I&B Ministry's purview

Government brings online gaming and online advertisements under I&B Ministry's purview

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.

GST Council Meeting to Discuss Face Value Calculation for Online Gaming on August 2nd

GST Council Meeting to Discuss Face Value Calculation for Online Gaming on August 2nd

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.

GST on online games: What does this mean for the gamers and the gaming industry? Explained

GST on online games: What does this mean for the gamers and the gaming industry? Explained

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.

GST Council meeting on July 11, discussion on GST on Online Gaming

GST Council meeting on July 11, discussion on GST on Online Gaming

Thu, Jul 06, 2023

GST Council meeting on July 11, discussion on GST on Online Gaming, How much GST will be applicable on Casino?

Union Minister Rajeev Chandrasekhar announces plans to ban certain online games in India

Union Minister Rajeev Chandrasekhar announces plans to ban certain online games in India

Tue, Jun 13, 2023

Union Minister Rajeev Chandrasekhar unveils the government's blueprint to ban three types of online games in India, citing addiction and harm concerns. However, critics argue that the rules lack clarity and may lead to over-regulation. The government plans to establish self-regulatory organizations within 90 days to determine permissible games.

From Hobby to Income: How Online Gaming has emerged as a lucrative profession in India

From Hobby to Income: How Online Gaming has emerged as a lucrative profession in India

Fri, Jun 02, 2023

As per a recent study by EPWA, gaming has become a significant source of income for 83% of gamers, a stark contrast to previous years when gaming was merely seen as a hobby.

Online gaming attracts 28% GST, govt to constitute a task force for online gaming regulation: Finance Ministry

Online gaming attracts 28% GST, govt to constitute a task force for online gaming regulation: Finance Ministry

Tue, Dec 20, 2022

While there were some speculations about paying taxes on online gaming before the GST meeting happened on December 17, the chief of the Central Board of Indirect Taxes, Vivek Johri clarified that there would be a 28 per cent GST only in situations when the winning will be dependent on a certain outcome.

Online gaming industry fine with 28% GST on gross gaming revenue not on entry amount

Online gaming industry fine with 28% GST on gross gaming revenue not on entry amount

Thu, Dec 08, 2022

The GST Council is expected to meet on December 17, 2022, in a virtual format and the panel headed by the Finance Minister may take up agenda related to Casino, Race Course and Online Gaming industry.

Online Gaming Industry Is On Surge, Watch This Video To Know Which Stocks Will Be In Focus?

Online Gaming Industry Is On Surge, Watch This Video To Know Which Stocks Will Be In Focus?

Thu, Jun 02, 2022

Online gaming is on surge in India. Number of gamers is increasing in the country. Which stocks will benefit? Know from Ashish Chaturvedi.

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