The recently imposed 28 per cent goods and services tax (GST) on online games involving real money will not impact the taxation on e-sports, such as FIFA Online and League of Legends, or leading titles on PlayStation, Xbox and Nintendo platforms. The higher tax rate will be solely levied to pay-to-win games, such… Continue reading GST levy on online gaming may not impact taxation on e-sports, video games
Tag: gaming
Laptop import curb, Data Protection Bill, markets, GST in gaming
Laptops, tablets and personal computers have joined the list of products that need a license to enter India. While the government did not cite any reason for last week’s surprise move, experts believe it was done to nudge companies to make in India. And it came days after the PLI scheme for hardware failed… Continue reading Laptop import curb, Data Protection Bill, markets, GST in gaming
28% tax on online gaming from October 1, says Sitharaman
A 28 per cent tax on the full face value of bets placed on online gaming will be imposed from October 1, Finance Minister Nirmala Sitharaman said during the 51st GST Council meeting. The GST Council will review the implementation of a 28 per cent goods and services tax (GST) on online gaming… Continue reading 28% tax on online gaming from October 1, says Sitharaman
28% GST on online gaming to be implemented from October 1: FM Sitharaman
Softening its stance, the Goods and Services Tax (GST) Council on Wednesday decided to implement a 28 per cent tax on electronic gaming, casinos, and horse racing, but this would be applied on the initial amount paid upon entry, and not on the total value of each bet placed. Despite dissent from… Continue reading 28% GST on online gaming to be implemented from October 1: FM Sitharaman
Delhi finance minister ‘strongly opposed’ to 28% GST levy on online gaming
Delhi finance minister Atishi has “strongly opposed” the GST Council’s decision to implement a 28 per cent GST on online gaming platforms, an official statement said on Wednesday. The GST Council chaired by Union finance minister Nirmala Sitharaman on Wednesday decided that 28 per cent GST will be levied at face value of… Continue reading Delhi finance minister ‘strongly opposed’ to 28% GST levy on online gaming
Small firms in online money gaming will be unable to survive high GST: AIGF
Small companies that are into online real money-based gaming will not be able to survive due to the high Goods and Services Tax of 28 per cent, industry body All India Gaming Federation said on Wednesday. Finance Minister Nirmala Sitharaman has announced that a 28 per cent GST on the full face value… Continue reading Small firms in online money gaming will be unable to survive high GST: AIGF
GST Council meet on Wednesday to finalise modalities for taxing gaming
The GST Council in its meeting on Wednesday is likely to finalise the modalities for determination of supply value in online gaming and casinos for levying 28 per cent tax. The Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state ministers, in its last meeting on July 11 approved levying 28… Continue reading GST Council meet on Wednesday to finalise modalities for taxing gaming
Current law enough against GST evasion by offshore gaming platforms: FinMin
The GST Council on July 11 decided that online gaming is an actionable claim, like the lottery, on which a 28 per cent tax is to be levied. The finance ministry on Tuesday said there are sufficient enforcement provisions in GST laws to take action against offshore gaming platforms, which default in paying taxes.… Continue reading Current law enough against GST evasion by offshore gaming platforms: FinMin
Online gaming content, advertising under purview of IB Min: Notification
Online gaming content and advertising have been brought under the purview of the Ministry of Information and Broadcasting, according to a government notification issued on Monday. In an amendment to the Government of India (Allocation of Business) Rules, the subjects Films and Audio-Visual programmes/content made available by online content providers/publishers and online advertisements… Continue reading Online gaming content, advertising under purview of IB Min: Notification