Tag: GST

Online gaming sector in India hit hard by GST hike: over half of enterprises report revenue decline

The online gaming sector in India has shown signs of strain following the imposition of a 28% goods and services tax (GST) on total...

GST Council unlikely to change prospective tax rate for online gaming industry

As the government announces the meeting of the GST Council, sources suggest that online gaming companies are unlikely to see any relief. Despite continuous...

SOGI advocates for fair taxation to support Indian gaming industry’s growth

The Indian online gaming industry, valued at $3.5 billion, has called on the government to reconsider the 28 percent Goods and Services Tax (GST)...

GST council unlikely to reverse 28% tax on online gaming; Relief on retrospective tax claims under consideration

The GST Council is unlikely to reverse the 28% goods and services tax (GST) on the online gaming industry, despite concerns from industry stakeholders....

Online gaming industry grapples with 28% GST impact

Since the government introduced a 28% Goods and Services Tax (GST) on online gaming bets over six months ago, the industry has been facing...

Gameskraft Technologies acquires 8.61 acres of land in Gurugram for Rs. 90 Crore

Bengaluru-based online gaming company Gameskraft Technologies Private Limited has acquired an 8.61-acre land parcel in Gurugram, Haryana, for Rs. 90 crore. The transaction was...

NACIN Mumbai hosts GST symposium on online gaming legal framework

The National Academy of Customs, Indirect Taxes & Narcotics (NACIN) in Mumbai conducted a GST Symposium titled “Decoding the new GST legal framework for...

GST hike expected to moderate monetization in India’s online gaming sector

A recent joint report by real money gaming (RMG) firm Winzo and the Interactive Entertainment and Innovation Council (IEIC) suggests that despite the growing...

India’s online gaming industry surge overtakes filmed entertainment as per latest FICCI-EY report

India's online gaming sector has experienced significant growth, surpassing filmed entertainment to claim the fourth-largest position in the media and entertainment industry, reveals as...

RMG companies evolve new strategy to reduce 28% GST impact

Online gaming companies, specializing in platforms like poker, rummy, and fantasy sports, are implementing strategies amidst the evolving landscape of taxation. In response to...

Real money gaming sector re-evaluates ad spending as industry shifts

The gaming industry's evolving structure is set to have an influence on the advertising sector by the conclusion of Fiscal Year 2024 (FY24), with...

Karnataka government eyes legislation to curb online gambling

Home Minister Dr G Parameshwara declared the government's intention to investigate potential legislation aimed at regulating betting activities and curtailing the proliferation of online...

Goa government collects Rs. 820 crore revenue from casinos, no plans to shut down despite controversies

Goa and its casinos have been a combination for several years now, with the capital Panaji situated along the Mandovi River, drawing the attention...

NBA and WNBA extend Dream11 partnership to enrich basketball fantasy gaming in India

The National Basketball Association (NBA) and the Women’s National Basketball Association (WNBA) have announced a significant multiyear extension of their collaboration with the fantasy...

PhonePe ventures into the app market with Indus Appstore amid Google Play policy shift

PhonePe, owned by Walmart, is gearing up to unveil its mobile app store, Indus Appstore, to consumers on February 21, posing a direct challenge...

Potential relief for online gaming industry as government mulls over GST demands

According to sources, the Union government is considering softening its stance on the goods and services tax (GST) demand notices issued to online gaming...