Page 7 - Online Gaming

IAMAI urges GST Council to tax gaming platform fee, not full face value

The Internet and Mobile Association of India claimed that the new GST rules are not aligned with best global practices and may place Indian gaming companies at a disadvantage

28% GST an opportunity for gaming companies to compete: Gamezop co-founder

Gaurav Agarwal, co-founder of Gamezop, said those firms that are able to adapt faster will 'emerge victorious'

Shares of Indian gaming, casino firms drop after 28% GST imposition

These companies will now have to pay a 28% tax on the entire amount collected from players, instead of the small tax on the fee they charged for real-money games until now

Centre has 'murdered' online gaming with 28% GST, says Ashneer Grover

The new tax puts fantasy gaming tax at the same level as gambling and betting

Roll of GST dice: Delta, Nazara shares slump up to 23% on D-Street

RMG refers to skill-based games that can be played for real money

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GST Council meeting: Firms say 28% tax on online gaming a killer blow

Industry stakeholders, including gaming companies and industry bodies, expressed discontentment

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

Sitharaman said the tax will be levied on the entire value

50th GST Council meet underway, taxation on online gaming on agenda

The 50th GST Council meeting started on Tuesday and is likely to deliberate on a host of issues including taxation of online gaming, definition of utility vehicles and tightening of norms for registration and claiming of ITC. At the beginning of the meeting taking place in the national capital, Finance Minister Nirmala Sitharaman released a short film titled 'GST Council - 50 steps towards a journey'. In 49 meetings held so far, the Council has taken approximately 1,500 decisions in the spirit of co-operative federalism, the office of Nirmala Sitharaman tweeted. "The 50th meeting is a milestone which indicates success of cooperative federalism and establishment of a good & simple tax regime," the tweet said. Sitharaman also released a Special Cover and customised 'myStamp', which was presented to her by the Chief Post Master General, Delhi Circle India Post Office, the finance ministry tweeted. The GST Council is chaired by the Union Finance Minister and comprises ministers from .

Rooter ties up with Reliance Jio to telecast gaming, esports content

To access the app on the home TVs, Jio Set-Top Box subscribers will be able to download Rooter directly from the JioStore

GoM on online gaming, casinos broadly agrees on 28% GST, Goa differs

The GoM on online gaming, horse racing and casinos had a broad agreement that a 28 per cent GST should be levied on all the three supplies, but a consensus eluded on taxability of online games, as Goa suggested an 18 per cent tax on platform fees, sources said. A final view on taxation rate as well as whether tax is to be levied on gross gaming revenue (GGR) or fees charged by the platform; or on the full face value of bets put in by players of online gaming, horse racing and casinos would be taken by the GST Council on July 11. Also, the Council, chaired by the Union Finance Minister and comprising state counterparts, has to decide on whether these three activities fall under the category of actionable claim of betting and gambling, sources added. The Group of Ministers, convened by Meghalaya Chief Minister Conrad Sangma, has members from eight states-- West Bengal, Uttar Pradesh, Goa, Tamil Nadu, Telangana, Gujarat and Maharashtra. Of the eight states, West Bengal and Uttar Prade

Indian fantasy sports revenue increased 24% during IPL 2023: Report

61 mn people participated in fantasy gaming during the T20 cricket tournament

Fantasy sports made Rs 2,800 crore in gross gaming revenue during IPL 2023

This is a 24 per cent jump in gross gaming revenue from Rs 2250 crore in IPL 2022, and the market has grown at a CAGR of 30 per cent since IPL 2019.

India's fantasy sports' revenue rises 24% during IPL 2023: Redseer report

Fantasy gaming apps gained popularity in India during the pandemic. Many new companies entered the market to cash in on cricket's popularity and have launched virtual leagues

Online gaming platform Zupee announces Kapil Sharma as brand ambassador

Zupee also announced its campaign 'India Ka Apna Game' to celebrate the popularity of Ludo

GST evasion notice: Revenue dept to move SC against HC relief to Gameskraft

The notice was issued by the Directorate General of GST Intelligence (DGGI) in September 2022 in which it alleged that GamesKraft escaped GST payment

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Gaming firms hail CBDT's online gaming TDS clarifications on bonuses & sops

TDS not to apply if bonuses are used only for playing, or if net winnings do not exceed Rs 100 a month, or if balance in the user account is not sufficient to discharge tax deduction

TDS rules: Online gaming bonus, incentives taxable if withdrawn, says CBDT

Issues clarification on TDS provisions on online gaming