Category: Gaming
Gaming21 Aug, 2023 Central Govt. Introduces Amendments In The CGST And IGST Acts
The Central government issued a notification on the amendments in online gaming in the Central Goods and Services Taxes Act (CGST Act) and Integrated Goods and Services Act (IGST Act) on 18th August 2023. The bill was introduced in the monsoon session of the Lok Sabha on 11th August 202...
Gaming18 Aug, 2023 HIT Games Conference Ventures Into India, Inaugurates With The Games Summit
The highly anticipated HIT Games Conference is set to make history as it brings its renowned Games Summit to India for the very first time. Mark your calendars for September 14, 2023, as the gaming universe converges at the prestigious Welcomehotel by ITC Hotels in Bengaluru. Since its ...
Gaming08 Aug, 2023 MPL To Lay Off 350 Employees Due To The Government’s 28% GST Decision
In a shocking news, one of India’s biggest gaming companies, Mobile Premier League (MPL), has announced that it will be laying off as many as 350 employees, citing the latest imposition of 28% GST on online gaming as the reason for the bold step. This will be the second round of l...
Gaming03 Aug, 2023 Delta Corp Stock Prices Fall After FM’s 28% GST Decision
After the GST Council announced the 28% GST on the face value of deposits in online gaming yesterday, the stocks of Delta Corp tanked by 8% when the market opened this morning. It recorded an opening price of ₹189 at 9.30 PM, after closing at ₹196.50 yesterday at 3.30 PM. Finance Minis...
Gaming03 Aug, 2023 28% GST On Online Gaming: What It Means For The Players?
The Goods and Service Tax (GST) Council sent waves of shock and unrest among the online gaming community after its 51st GST Council Meeting held on 2nd August 2023. The council upheld its previous decision to impose 28% GST on the face value of deposits made by a player. Previously, the...
Gaming02 Aug, 2023 Online Gaming Industry Reacts To The 28% GST On Online Gaming Decision
The latest decision of the Goods and Service Tax (GST) to levy a 28% tax on the face value of deposits made in online gaming has left the industry disheartened. The new tax regulation will have a massive negative impact on the industry. To understand better what this tax really means, c...
Gaming02 Aug, 2023 GST Council: 28% GST To Be Levied On Face Value Of Deposits
The 51st Goods and Service Tax (GST) Council meeting was held today, in which the council upheld that they would levy a 28% GST on the face value of the deposits made by players. While clarifying the new amendment, the Finance Minister of India, Nirmala Sitharaman, said, “Valuation of ...
Gaming02 Aug, 2023 28% GST On Online Gaming Claims Its First Casualty In Quizy
Last month the GST Council announced that it would levy a 28% GST on online gaming. Post that, there has been a lot of unrest in the online gaming community since the tax would mean that brands have to pay more than their revenues as taxes. And this decision has recorded its first casua...
Gaming27 Jul, 2023 GST Council To Reconvene On 2nd August To Determine Tax On Online Gaming
The Goods and Services Tax (GST) Council is all set to meet on 2nd August 2023. They are all set to meet virtually and discuss the legal amendments necessary on the 28% levy on online gaming, casinos and horse racing. Earlier, Union Finance Minister Nirmala Sitharaman had stated that th...
Gaming17 Jul, 2023 Yudiz To Make Acquisitions Worth 12.3 Crore In India
A fortnight prior to its IPO, a blockchain, AI and gaming focussed enterprise solutions technology company, is looking to strengthen its core offerings by looking at acquisitions across India, USA, Canada and Europe. The company will be spending Rs.12.31 crore from the total proceedings...
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