Tag: gaming

Indian gaming consortium writes to PMO, I&B Ministry seeking tax relief and clear classification

The representation letter to the Prime Minister’s Office and to the office of the Minister of Information and Broadcasting (MIB) was signed by 70 companies from the Indian video games and esports industry.

The consortium has made 10 suggestions to the newly formed government which includes reducing the GST on video games to a 12% bracket to promote sustainability and better cash flow for game companies, exempt import/customs duties, IGST, and any cess for proprietary hardware development kits used for testing and developing video games.

Epic Games CEO to fight against Apple’s app store policies

The new Digital Markets Act in Europe allowed Epic to launch its own Epic Games Store on iOS and to bring Fortnite back to the platform with reduced commissions to Apple.

Epic has been fighting Apple for years over the company’s revenue-sharing requirements in the App Store. While Epic’s antitrust lawsuit against Apple was defeated last year, many of its criticisms were echoed in a different lawsuit filed against Apple in March by the Department of Justice and 17 state attorneys general.

Telangana sets the stage for India’s distinct esports policies: Exclusive

In addition to the basic rate of 30 percent, a health and education cess at the rate of 4 percent of the amount of tax is levied. Thus the effective tax rate on lottery winnings comes up to 31.2 percent. (Image sourced via Unsplash)

Stakeholders met Telangana’s IT Minister to address issues like taxation on esports prize pools, distinguishing between skill-based and chance-based games, regulating gaming content creators and establishment of regulatory bodies.

Game over for profits? Industry unplugs concerns over GST

In addition to the basic rate of 30 percent, a health and education cess at the rate of 4 percent of the amount of tax is levied. Thus the effective tax rate on lottery winnings comes up to 31.2 percent. (Image sourced via Unsplash)

With the GST casting a shadow, the online gaming industry faces a tough choice: adapt and evolve their business models, or face a potential game over.

Pre-GST boom, post-GST gloom: Online gaming stumbles in India

Inspired by Mahatma Gandhi’s wisdom, “Be the change you wish to see,” Growth Ka Chashma invites investors to “Spot the growth you want in your portfolio.” It simplifies financial literacy with a gamified approach, combining advanced AI with market analysis to make stock market learning more accessible.

For a sector which has created 100,000 jobs and was expected to create around three times more jobs in coming years, such job erosion is an alarming concern that reflects the adverse business impact of the GST amendment, the report points out.

Emergence of gaming creators’ economy in modern marketing

This vibrant ecosystem, comprising content creators, streamers, and influencers are all contributing to produce engaging content. And by integrating influencers into their marketing strategies, brands can also tap into the power of storytelling and community-building, creating compelling narratives that drive consumer engagement and loyalty.

The creators’ economy whilst creating engaging content is helping brands to connect with tech-savvy audiences across a diverse demography, writes Animesh Agarwal, founder and chief executive officer of 8Bit Creatives and co-founder of S8UL.

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