Page 25 - Online Gaming

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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

Online gaming unicorn MPL forays into Africa, launches its app in Nigeria

MPL, which became a unicorn in 2021, has partnered with Africa's gaming publisher Carry1st to launch in the continent

Karnataka HC quashes Rs 21,000 crore show cause notice against Gameskraft

It was the biggest tax demand notice issued in the history of indirect taxes in India

Indians will spend more on online gaming than on films by 2025: EY-Ficci

Sector is growing at twice the pace of filmed entertainment, study shows

Centre likely to seek different taxation policy for games of skill, chance

The finance ministry will present its view when the GST Council discusses the report of a Group of Ministers (GoM) on online gaming, sources said

Madras HC to hear gaming companies' appeal against ban order on April 27

The Tamil Nadu Legislative Assembly twice passed the Bill to prohibit online gaming. After it was passed a second time, Governor R.N. Ravi gave his assent

Centre's online games rules very clear, no ambiguity: ASG Venkataraman

Putting money on uncertain events amounts to wagering and the government's new rules bar online real money games that declare winners based on prediction of the unknown outcome, according to Additional Solicitor General N Venkataraman. Amid attempts by certain industry players to masquerade wagering as a game of skills in the wake of the new rules issued under the Information Technology (IT) Act, the government's senior law officer said that some states are making a mistake in trying to distinguish between a game of skill and a game of chance in the context of wagering. He also emphasised that the rules should be tested on the basis of the country's Constitution, statutory provisions and Supreme Court judgements. "The new rules notified by the Centre is very clear. There is no ambiguity. Our courts have held that wagering is illegal, and any business predicated on wagering is res extra commercium that is a thing outside commerce. Such businesses cannot be carried on in India," ...

TN releases new rules for online gaming, encourages company registration

The Tamil Nadu government on Monday released new regulations regarding online gaming