- 11 Aug 2023 06:05 PM
- New
Impact of Imposing 28% GST on Online Gaming Industry
Source: https://taxguru.in/goods-and-service-tax/impact-imposing-28-gst-online-gaming-industry.html
Introduction: This article explores the implications of the Indian Government’s decision to impose a 28% Goods and Services Tax (GST) on the online gaming industry. It provides insights into the estimated size of the industry, the projected revenue collection, and the rationale behind this tax rate. The impact of the 28% GST on the growth and revenue generation of the online gaming sector is also discussed.
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- 10 Aug 2023 05:17 PM
- New
Cabinet okays GST changes to betting on online games
The Union cabinet on Wednesday cleared legislative changes needed to implement the GST Council’s decision to ensure that 28% GST is paid on the full value of amounts deposited by players for betting on online games, casinos and horse races, three people familiar with the development said.
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- 09 Aug 2023 05:07 PM
- New
GST impact: Mobile Premier League to slash 350 jobs
New Delhi: As one of the fallouts of the meek outlook following the decision of the GST Council to increase the GST burden on gamers and gaming companies to 28%, one of the largest players in the fantasy gaming business, Mobile Premier League (MPL), has decided to slash 350 jobs.
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- 09 Aug 2023 05:10 PM
28% GST on full face value of bets to yield more tax revenue: finance minister
Some online gaming companies and horse race clubs are disputing the 28% levy before various legal fora
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- 09 Aug 2023 05:19 PM
Is ‘Esport’ next big thing for India? Zerodha co-founder Nikhil Kamath backs gaming industry. See post
India's gaming industry faces setback with 28% GST on online games, but Zerodha co-founder predicts it as the 'next big thing' for India, citing its larger size than the movie and music industries combined. The Indian gaming market is expected to reach $8.6 billion by FY2027
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- 09 Aug 2023 05:22 PM
ICICI Lombard responds to GST notice, alleging tax demand of ₹273 crore; check here
ICICI Lombard General Insurance Company Limited has received a Goods and Services Tax (GST) show-cause notice, alleging a tax demand of ₹273.4 crore along with interest, the company informed the BSE.
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- 09 Aug 2023 05:28 PM
GST@6: Forward looking thought
Source: https://www.livemint.com/opinion/first-person/gst6-forward-looking-thought-11691577055780.html
As we enter the seventh year of the GST regime, it is crucial to address the prolonged issues and challenges while embracing forward-looking thoughts.
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- 08 Aug 2023 05:47 PM
FIU can share data with GSTN: minister
Source: https://www.livemint.com/news/india/fiu-can-share-data-with-gstn-minister-11691436566359.html
Pankaj Chaudhary said that FIU is enabled to share reports like cash transaction report and suspicious transaction report to GSTN for making them available to GST authorities, where such reports are found relevant for GST evasion
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- 08 Aug 2023 05:52 PM
Woman's tweet sparks debate over 'unfair' delivery charge in bill; Zomato offers clarification
Woman's tweet sparks debate over 'Unfair' delivery charge in bill; Zomato offers clarification.
A patron of Zomato expressed dissatisfaction on X (formerly Twitter), raising concerns about the perceived "excessive and unjust" container fee. The customer called for an explanation from the food delivery service.
- 05 Aug 2023 05:43 PM
India's Q1 GDP growth projections could be overstated by 1%: HSBC
New Delhi: While India's April-June GDP growth data is likely to come in at an impressive 8% on the back of improved trade, though issues with the manufacturing and services deflator could overstate economic growth by as much as one percentage point, HSBC Global Research said in its latest research report.
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