The Finance Minister, Nirmala Sitharaman, has provided clarification on the Goods and Services Tax (GST) on online gaming during the GST Council meeting. She stated that taxes will be applicable on the total funds deposited for playing online games, rather than on every bet made. Additionally, she clarified that taxes for online gaming and casinos …
A collective of 30 Indian and international investors has collaborated to convey their concerns to Prime Minister Narendra Modi regarding the proposed imposition of a 28% Goods and Services Tax (GST) on online gaming. In a joint letter dated July 21, prominent investors such as Peak XV Capital, Tiger Global, DST Global, Bennett, Coleman & …
The recent decision made by the GST council to impose a 28% tax on the full face value of bets in online gaming has sent shockwaves through the industry. This move is seen as a significant setback that could have devastating consequences and put the very survival of the gaming industry at risk. It is …
The decision of the Goods and Services Tax Council to impose a 28% GST on online games has been met with discontent from the online gaming industry. This decision was made during the 50th GST Council meeting in New Delhi on July 11. The tax will be levied on the full face value of online …
The Goods and Services Tax Council, which convened in New Delhi on July 11, has delivered unfortunate news to online gaming companies. The council has agreed to impose a 28% tax on online gaming, casinos, and horse racing. This tax will be based on the full face value of these activities. The decision was reached …
On Tuesday, Finance Minister Nirmala Sitharaman stated that the GST Council is currently deliberating on the taxation policy for online gaming. She expressed confidence that the sector will attract investment once the policy is finalised. Sitharaman was responding to a question from a Korean gaming company, Krafton, about India’s plans to attract foreign investment in …