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GST on online gaming spiked revenue 412% in six months, netted Rs 6,909 cr, says FM Sitharaman

GST on online gaming spiked revenue 412% in six months, netted Rs...

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.

Nazara Technologies shares fall over 7% - Check details

Nazara Technologies shares fall over 7% - Check details

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.

Government Considers Chinese Formula to Curb Online Gaming Addiction

Government Considers Chinese Formula to Curb Online Gaming Addict...

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.

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Online Gaming: How Gamers In India Are Earning Big Paychecks

Online Gaming: How Gamers In India Are Earning Big Paychecks

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.

India among top 5 markets; willingness to pay among gamers rising: Krafton India CEO

India among top 5 markets; willingness to pay among gamers rising...

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.

Online gaming industry will not be a job driver in near term: Deltatech Gaming CMO Joydeep Mukherjee on imposing 28% GST

Online gaming industry will not be a job driver in near term: Del...

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.

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

GST Council Meeting: States Raise Issue Of Retrospective Taxation...

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.

Karnataka government promulgates ordinance to impose 28% tax on online gaming

Karnataka government promulgates ordinance to impose 28% tax on o...

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.

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 Do...

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.

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 Evadin...

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.

SC stays Karnataka HC decision quashing Rs 21,000 crore GST notice to online gaming platform

SC stays Karnataka HC decision quashing Rs 21,000 crore GST notic...

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.

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...

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 Council meeting: 28% tax on casinos, online gaming to come into effect from October 1 and other key takeaways

GST Council meeting: 28% tax on casinos, online gaming to come in...

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.

Taxing GST on deposits will wipe out 80% of online gaming industry

Taxing GST on deposits will wipe out 80% of online gaming industr...

Thu, Aug 03, 2023

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.

28% GST on online gaming to come into effect from October 1: FM Nirmala Sitharaman

28% GST on online gaming to come into effect from October 1: FM N...

Thu, Aug 03, 2023

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.

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

Government brings online gaming and online advertisements under I...

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...

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...

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.

What Will the Impact of 28% GST on the Online Gaming Industry On OnMobile Global ? | News Par Views

What Will the Impact of 28% GST on the Online Gaming Industry On...

Wed, Jul 12, 2023

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...

GST Update FROM Anil Singhvi: Casino and Online Gaming Hit with 28% GST

GST Update FROM Anil Singhvi: Casino and Online Gaming Hit with 2...

Wed, Jul 12, 2023

Casino and Online gaming will attract 28% GST What will happen to online gaming stocks? Know from Anil Singhvi...

‘$10 billion down the drain’: Ashneer Grover takes a jibe at government over 28% GST on online gaming

‘$10 billion down the drain’: Ashneer Grover takes a jibe at gove...

Wed, Jul 12, 2023

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.

GST Council decides to impose 28% tax on turnover of online gaming firms

GST Council decides to impose 28% tax on turnover of online gamin...

Wed, Jul 12, 2023

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.

India360: Big decision in GST Council meeting, 28% GST imposed on online gaming

India360: Big decision in GST Council meeting, 28% GST imposed on...

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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