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Bill To Ban Online Games Played With Money Passed In Lok Sabha
The Lok Sabha on Wednesday passed a legislation to ban online games played with money as it looks to check rising instances of addiction, money laundering and financial fraud through such applications.
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Supreme Court Stays GST Notices Worth Over Rs 1 Lakh Crore Against Gaming Firms
The Supreme Court on Friday stayed showcause notices issued by GST authorities worth over Rs 1 lakh crore to online gaming companies and casinos over alleged tax evasion.
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Indian Video Games Industry Seeks Distinction From Real Money Games, Sends Policy Suggestions to Centre
A consortium of Indian video games and esports companies have written to the newly formed government, requesting a comprehensive industry-focussed policy, regulatory streamlining and a clear distinction from real money games that are often conflated with video games under the “Online Games” umbrella term.
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GST Council To Meet On June 2, May Review Online Gaming Taxation
The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet after a gap of eight months on June 22, and is likely to review the implementation of 28 per cent GST on the online gaming sector.
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Notices Issued To Gaming Firms Over Rs 1.12 Lakh Crore GST Evasion: Centre
As many as 71 show cause notices have been issued to online gaming companies for alleged GST evasion of over Rs 1.12 lakh crore during financial years 2022-23 and 2023-24, the finance ministry said today.
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Betting-Based Online Gaming Firms Said to Face Rs. 1 Lakh Crore GST Notices
India's online gaming industry has received show-cause notices amounting to Rs. 1 lakh crore say sources. The notices come even as the industry has raised concerns on the applicable GST Rates.
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Online Gaming Companies Get Rs 1 Trillion GST Notices Over Tax Evasion
GST authorities have issued show cause notices worth Rs 1 lakh crore to online gaming companies for tax evasion so far, a senior official said on Wednesday.
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Will Seek Withdrawal Of Tax Notices To Online Gaming Companies: Atishi
Delhi Finance Minister Atishi today said tax evasion notices worth Rs 1.5-lakh crore to online gaming companies will finish them and vowed to seek their withdrawal at the GST Council meeting during the day.
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"Don't Impose GST On Online Gaming Retrospectively": Fantasy Sports Body
The Federation of Indian Fantasy Sports (FIFS) on Wednesday urged the government not to impose a 28% GST on online gaming with retrospective effect, as it is discouraging investors from putting their money into this booming industry.
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28% GST On Online Gaming Set To Be Implemented From October 1
The Central Board of Indirect Taxes and Customs (CBIC) Chairman, Sanjay Agarwal, has announced that India is prepared to implement a 28 per cent Goods and Services Tax (GST) rate on online gaming starting from October 1.
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Fantasy Sports Platform Dream11 Approaches High Court Over GST Notices
Fantasy sports platform Dream11 has filed a petition in the Bombay High Court challenging the levy of 28 per cent GST retrospectively on bets placed on its platform.
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Ashneer Grover Slams Rs 55,000 Crore Tax Notice To Gaming Firms: ''Harassing Businessmen''
The former BharatPe founder questioned the thought process of people running the tax department and said that their goal is just to ''harass businessmen.''
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BGMI Maker Krafton India Urge for Support Measures to Promote Online Gaming
Krafton India, makers of the popular online game BGMI, on Thursday pitched for government support measures to promote the online gaming industry in the country. Krafton India CEO Sean Hyunil Sohn highlighted subsidies given to gaming companies for labour costs by countries like the UAE and Canada and stated that innovative ways can be found to pro...
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28% GST On Bets By Foreign Players On Domestic Online Gaming Platforms
Domestic online gaming companies will be required to deduct 28 per cent GST on bets placed from overseas locations, including by foreign players, as such bets will also be treated as actionable claims.
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Offshore Online Gaming Companies in India Mandated to Register Their Business
The Indian government has mandated offshore online gaming companies operating in the country to register the business locally or appoint a representative to pay tax on funds collected from customers. The move to tax online gaming companies has shocked the nascent $1.5 billion (nearly Rs. 12,430 crore) industry, which is backed by global investors.
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Bill To Ban Online Games Played With Money Passed In Lok Sabha
The Lok Sabha on Wednesday passed a legislation to ban online games played with money as it looks to check rising instances of addiction, money laundering and financial fraud through such applications.
-
Supreme Court Stays GST Notices Worth Over Rs 1 Lakh Crore Against Gaming Firms
The Supreme Court on Friday stayed showcause notices issued by GST authorities worth over Rs 1 lakh crore to online gaming companies and casinos over alleged tax evasion.
-
Indian Video Games Industry Seeks Distinction From Real Money Games, Sends Policy Suggestions to Centre
A consortium of Indian video games and esports companies have written to the newly formed government, requesting a comprehensive industry-focussed policy, regulatory streamlining and a clear distinction from real money games that are often conflated with video games under the “Online Games” umbrella term.
-
GST Council To Meet On June 2, May Review Online Gaming Taxation
The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet after a gap of eight months on June 22, and is likely to review the implementation of 28 per cent GST on the online gaming sector.
-
Notices Issued To Gaming Firms Over Rs 1.12 Lakh Crore GST Evasion: Centre
As many as 71 show cause notices have been issued to online gaming companies for alleged GST evasion of over Rs 1.12 lakh crore during financial years 2022-23 and 2023-24, the finance ministry said today.
-
Betting-Based Online Gaming Firms Said to Face Rs. 1 Lakh Crore GST Notices
India's online gaming industry has received show-cause notices amounting to Rs. 1 lakh crore say sources. The notices come even as the industry has raised concerns on the applicable GST Rates.
-
Online Gaming Companies Get Rs 1 Trillion GST Notices Over Tax Evasion
GST authorities have issued show cause notices worth Rs 1 lakh crore to online gaming companies for tax evasion so far, a senior official said on Wednesday.
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Will Seek Withdrawal Of Tax Notices To Online Gaming Companies: Atishi
Delhi Finance Minister Atishi today said tax evasion notices worth Rs 1.5-lakh crore to online gaming companies will finish them and vowed to seek their withdrawal at the GST Council meeting during the day.
-
"Don't Impose GST On Online Gaming Retrospectively": Fantasy Sports Body
The Federation of Indian Fantasy Sports (FIFS) on Wednesday urged the government not to impose a 28% GST on online gaming with retrospective effect, as it is discouraging investors from putting their money into this booming industry.
-
28% GST On Online Gaming Set To Be Implemented From October 1
The Central Board of Indirect Taxes and Customs (CBIC) Chairman, Sanjay Agarwal, has announced that India is prepared to implement a 28 per cent Goods and Services Tax (GST) rate on online gaming starting from October 1.
-
Fantasy Sports Platform Dream11 Approaches High Court Over GST Notices
Fantasy sports platform Dream11 has filed a petition in the Bombay High Court challenging the levy of 28 per cent GST retrospectively on bets placed on its platform.
-
Ashneer Grover Slams Rs 55,000 Crore Tax Notice To Gaming Firms: ''Harassing Businessmen''
The former BharatPe founder questioned the thought process of people running the tax department and said that their goal is just to ''harass businessmen.''
-
BGMI Maker Krafton India Urge for Support Measures to Promote Online Gaming
Krafton India, makers of the popular online game BGMI, on Thursday pitched for government support measures to promote the online gaming industry in the country. Krafton India CEO Sean Hyunil Sohn highlighted subsidies given to gaming companies for labour costs by countries like the UAE and Canada and stated that innovative ways can be found to pro...
-
28% GST On Bets By Foreign Players On Domestic Online Gaming Platforms
Domestic online gaming companies will be required to deduct 28 per cent GST on bets placed from overseas locations, including by foreign players, as such bets will also be treated as actionable claims.
-
Offshore Online Gaming Companies in India Mandated to Register Their Business
The Indian government has mandated offshore online gaming companies operating in the country to register the business locally or appoint a representative to pay tax on funds collected from customers. The move to tax online gaming companies has shocked the nascent $1.5 billion (nearly Rs. 12,430 crore) industry, which is backed by global investors.
