Tag: Online Gaming

Investing in skills and talent crucial for online gaming: Sumanta Dey

WinZO also partnered with the Indian Institute of Technology-Delhi (IIT-D), the Delhi Technological University (DTU), the Netaji Subhash University of Technology (NSUT), and the IIITD to launch its new cyber security programme, Code Health and Security Evaluation (CHASE). (Representative Image: Omid Armin via Unsplash)

The senior director, public policy and corporate affairs, Head Digital Works, talks about challenges the gaming industry faces.

Centre has the right to regulate Online Gaming: MeitY tells Delhi High Court

Such sites pose significant financial and socio-economic risks for consumers, especially youth and children and the Ministry of Information and Broadcasting (MIB) has previously issued multiple advisories asking television channels, digital news publishers and OTT platforms to refrain from showing advertisements for online gambling sites and surrogate advertisements. (Representative Image: Jack Hamilton via Unsplash)

The central government has responded after the Social Organization for Creating Humanity (SOCH). challenged the constitutional and legislative validity of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2023, which aim to regulate online gaming.

Gaming firms may use grey area in GST law to challenge ‘retrospective’ taxation: Sources

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)

Officials say the centre will leave it to the courts to decide whether the notices sent for the period prior to October 1 for 28 percent GST are valid or not.

How new-age gaming developers are transforming player experience

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.

Now backed with more resources and a massive audience, game developers are ready to capitalize on the skyrocketing demand for more immersive gaming.

GST Council Meet: Centre says not taxing online gaming firms retrospectively as states flag concerns

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)

Previously, online gaming companies paid 18 percent tax on the platform fees because the law was ambiguous, while betting and gambling always fell under the 28 percent slab.

India’s booming online gaming industry faces challenges in transition to 28 percent GST bracket

Moving on from taxes and revenues, the report also said that India’s online gamers are expected to grow at a CAGR of 5 percent and reach 53.8 crore by FY28. (Representational image via Unsplash)

While the government’s efforts to regulate and tax the sector are understandable from a revenue generation and user protection standpoint, it’s crucial to ensure that these measures do not stifle the industry’s potential.

Online gaming companies to lessen spend during ICC Men’s Cricket World Cup amidst 28 percent GST

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

On July 11, the GST Council decided to impose 28 percent tax for online gaming. On August 2, Finance Minister Nirmala Sitharaman clarified that the 28 percent tax will take place from October 1.

Gaming influencers – How would 28 percent GST affect marketing spends on influencers?

As per Rohit Agarwal,founder and chief executive officer, AlphaZegus, in the influencer space, the imposition of 28 percent GST is less of a concern than recession, which is a greater concern. (Representative Image: AronPW via Unsplash)

Starting October 1, a 28 percent GST will be imposed on the face value of both games of skill and games of chance. Storyboard18 connected with an influencer and industry experts to understand the impact of the levy on brands’ marketing spends on influencers and therefore, the influencer economy.

Esports celebrities are going to be superstars of the future: KRAFTON’s Srinjoy Das

This move comes after Free Fire, a rival battle royale game from Singapore tech giant Sea's gaming arm Garena, also made a comeback to the country after being suspended for about one and a half years.

KRAFTON is addressing BGMI as a cultural session for the first time, says Srinjoy Das, Associate Director, Marketing, KRAFTON India.

GST Council’s meeting today: What’s at stake for online gaming industry

Structural shifts toward a higher propensity to pay for in-game features and the burgeoning popularity of casual and midcore games are poised to play pivotal roles in shaping the landscape by FY28. (Representative Image via Unsplash)

The gaming industry is hopeful that the government will consider their concerns and arrive at a fair and sustainable decision for the valuation of GST on online gaming platforms.