Tag: 28% GST
28% GST21 Dec, 2023 Nirmala Sitharaman Clarifies On ‘Prospective’ Levy Of 28% GST
Update: As per the latest update from Union Finace Minister, Nirmala Sitharaman, the 28% GST levied on online gaming, horse racing and casinos will be applicable prospectively from 1st october 2023. She did not comment on tax collection retrospectively which has been widely discussed as...
28% GST19 Oct, 2023 Pocket52 Tournament Discounts: Your Winning Ticket to Savings!
Pocket52.com is one of the fast-growing online poker platforms in India. They are known to offer some of the best promotions and tournaments in the country. Recently, the Central government passed a new bill and saw 28% Goods and Service Tax (GST) being implemented on online gaming, cas...
28% GST05 Oct, 2023 Karnataka Notifies 161 Online Gaming Firms To Comply With New GST Rates
The much talked about 28% GST being implemented on online gaming, casinos, and horse racing, came into effect on 1st October 2023. Within a week, the Karnataka GST authorities shared a written ordinance to 161 online gaming firms and asked them to file their returns and comply with the ...
28% GST21 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...
28% GST08 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...
28% GST03 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...
28% GST03 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...
28% GST02 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...
28% GST02 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 ...
28% GST02 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...
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