Category: Gaming
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...
Gaming11 Jul, 2023 50th GST Council Meeting: Online Gaming, Casinos And Horse Racing Under Scanner
UPDATE 28% GST to be levied on online gaming, horse racing and casinos As per news reports, Finance Minister Nirmala Sitharaman stated that Group of Ministers (GoM) reached a consensus over levying 28% GST on full value of online gaming, horse racing and casinos. This will be applicable...
Gaming04 Jul, 2023 Madras HC Denies Interim Relief To Gaming Firms, Final Hearing On 13th July
The All India Gaming Federation (AIGF), alongside many online gaming firms, had filed writ petitions with the Madras High Court (HC), which were heard by a division bench consisting of Chief Justice Sanjay V. Gangapurwala and Justice PD Audikesavalu. The above-mentioned writ petitions w...
Gaming02 Jun, 2023 Gaming Poised To Emerge As A Viable Source Of Income In India
A first-of-its-kind study on online gamers in India has revealed the growing trend of gaming emerging as a career option in India and not just being limited to a means of entertainment. Based on the study, 83% of the respondents consider gaming as either a primary or secondary source of...
Gaming25 May, 2023 Yudiz Solutions Set To Launch Multi-Gaming Platform And Gaming Studio Ahead Of IPO
IPO-bound Yudiz Solutions Ltd, a blockchain, AI, and gaming focussed enterprise technology company has received an NSE approval for an SME IPO. With this approval, the company is set to invest approx 80 Million INR to set up a gaming studio and a multi-gaming platform. The game studio w...
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