- 12 Jul 2023 06:23 PM
- New
From 5% to 28% GST rates, here are key highlights of 50th GST council meeting
The 50th meeting of the GST Council concluded on Tuesday with the goods and services tax rate trimmed down to 5% in four items. Also, the council exempted GST on several imported pharma products. However, one of the biggest highlights was the 28% tax rate imposed on the full value of online gaming which is likely a setback for Indian players. The Revenue Secretary also clarified concerns related to ED interference in GSTN.
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- 12 Jul 2023 06:27 PM
- New
‘PMLA has nothing to do with GST’: Govt amid row over ED info sharing decision
The Centre's decision to allow the Enforcement Directorate to share information with the GST network has caused outrage among the Opposition. Critics argue that the amendment could affect traders paying taxes, while officials maintain that PMLA is unrelated to GST rules.
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- 12 Jul 2023 06:59 PM
- New
28% GST rate on online gaming impact: Why Nazara Tech shares fall is limited while Delta Corp stock drop nearly 30%?
The 28% GST rate imposed on the full value of online gaming stole the limelight after the 50th GST Council meeting. On the expected lines, online gaming stocks reacted on a bearish note on Wednesday. Experts believe the 28% tax rate is a setback for Indian players. Interestingly, Rekha Jhunjhunwala-backed Nazara Technologies' share price fall is limited, on the other, Delta Corp stock is bleeding to drop by nearly 30%.
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- 12 Jul 2023 06:56 PM
‘Game Over’: How 28% GST Could Kill The Gaming Industry | Explained
Business News/ Videos / ‘Game Over’: How 28% GST Could Kill The Gaming Industry | Explained
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- 12 Jul 2023 06:53 PM
Delta Corp share price tanks over 27% in one day: Should investors buy, sell or hold?
Delta Corp share price cracked nearly 28% on Wednesday, recording its biggest single-day fall ever, after the GST Council levied a 28% uniform GST on online gaming, casinos and horse racing.
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- 12 Jul 2023 06:50 PM
'India is super fun': Ashneer Grover slams policymakers over 28% GST on online games
Ashneer Grover, co-founder of CrickPe, criticizes the Indian government's decision to impose 28% GST on online gaming companies, calling it detrimental to the industry.
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- 12 Jul 2023 06:47 PM
Innova Crysta, Alcazar, Hector Plus, Scorpio-N among vehicles set to attract 22%
The GST Council has clarified that ground clearance refers to unladen conditions. MUVs with engine capacities less than 1500cc will continue to attract a 20% cess. The implications of the 'unladen' ground clearance specification need further clarity.
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- 12 Jul 2023 06:41 PM
IT drags Sensex below 65,400, Nifty ends 55 pts lower; Infosys, Adani Ent shed
Share Market Today: Sensex and the Nifty ended in the red after a sharp fall towards the end with IT stocks dragging the market, while PSU Bank sector remained steady.
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- 12 Jul 2023 06:44 PM
GST on Online Gaming: Delta Corp share price tanks 20%, Nazara Tech share price drops 5% on 28% tax levy
28% GST on online gaming, casinos: Shares of online gaming stocks such as Nazara Technologies and Delta Corp suffered massive losses in early trade on Wednesday (July 12) after the GST Council shocked the industry by levying a 28 per cent uniform GST on online gaming, casinos and horse racing.
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- 12 Jul 2023 06:33 PM
GST shock: Online gaming, casinos to be taxed at 28%
NEW DELHI : The Goods and Services Tax (GST) Council on Tuesday exempted integrated GST on select drugs when imported for personal use, redefined sport utility vehicles (SUVs) to prevent carmakers from side-stepping the highest tax bracket and levied a 28% uniform GST on online gaming, horse racing, and casinos on the full value of the bets.
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