gaming – Page 24 – storyboard18

GST Council likely to meet on August 2 to discuss online gaming tax treatment, law changes

The HC decision follows the hearing of three petitions against the non-regulation of deepfake technology in the country and the threat of its potential misuse.

The GST Council has no plans to reconsider its decision to impose 28 percent tax on online gaming, as per sources.

Video gaming firms urge PMO for distinct recognition, separate from RMG, Fantasy Sports

The number of employees in the 'Online Gaming' industry has grown at a CAGR of 97.5% from 2018 to 2023 in India.

The letter highlights the significance of Video Games as an artistic and narrative entertainment medium, recognized and heavily supported by various countries for their soft power projection and export revenue.

GST on Gaming: Video game industry less affected financially by 28% GST regulation, says Anuj Tandon of JetSynthesys

Anuj Tandon started his career with Infosys as software engineer, and then joined Tech Mahindra as a business analyst. Then, he joined Rolocule Games as co-founder - director, and from there joined Nazara Games as head of mobile game - publishing and marketing.

Anuj Tandon, CEO, Gaming at JetSynthesys talks about their new Sachin Saga game, marketing and monetizing mobile games in India and how GST doesn’t impact video games.

Obliterate gaming from the face of India as it goes against our social values: Gamer writes open letter to protest 28% GST

The OneBlade Cup will feature teams of four players engaging in qualifiers to make it to the top 16. (Representative Image: Onur Binay via Unsplash)

Gamer Deep Patel writes an open letter to the revenue secretary on behalf of the gaming community.

GST’s painful impact on gaming industry’s top earner: How real money gaming will suffer

Haryana cracks down on gambling

There are 507 million Indian gamers of which 120 million are paying users and RMG revenues currently constitute 57% of market size.

Explained: Here is why your video games would not become more costly

The number of employees in the 'Online Gaming' industry has grown at a CAGR of 97.5% from 2018 to 2023 in India.

Video games that do not involve any betting or gambling element in them are not subject to the 28% GST slab. This means that gamers can continue to enjoy video games without having to worry about paying extra taxes.

“Will request GST council to reconsider tax on online gaming,” Rajeev Chandrasekhar at CNN-News18 Town Hall

This was followed by similar questions on former American president Donald Trump and President of Ukraine Volodymyr Zelenskyy.

The GST Council on July 11 decided to impose a 28% tax on the turnover of online gaming companies, horse racing and casinos.

Explained: Into real money games? This is how 28 percent GST will impact you

According to Dua, while initial concerns remain regarding the regulations, cautious optimism is emerging. Data is being analyzed by officials to understand the impact on businesses and consumers. This, along with the Finance Minister's commitment to review, fuels hope for a potential revision that fosters continued industry growth.(Representative image via Unsplash)

The 28 percent GST will have a significant impact on paying users, who make up a large portion of the real money gaming industry in India.

Gameskraft, Nazara, MPL, AIGF and others request govt to reconsider 28% GST on real-money gaming

Haryana cracks down on gambling

The GST Council’s decision will “reverse the growth trajectory” of the industry and would potentially have “devastating implications” for MSMEs and startups, founders and industry associations say.

Taxing online gaming to the point of unviability, ‘contradicts Digital India vision’: 130 gaming entrepreneurs in open letter to govt

The number of employees in the 'Online Gaming' industry has grown at a CAGR of 97.5% from 2018 to 2023 in India.

Close to 130 entrepreneurs in the gaming space have joined forces to address the recent 28% GST announcement made by Finance Minister Nirmala Sitharaman.