A fire broke out at the entrance of ‘Big Daddy Casino’ around 5pm yesterday when the vessel was docked on the banks of Mandovi river in Panaji. According to a report by Dainik Gomantak, the team onboard was able to bring the fire under control in time avoiding any form of major damage. The staff […]
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The GST Council, in its 51st meeting on August 2, announced that the tax rate on online real money gaming will remain at 28% on full face value and it will be valued on initial deposits. Earlier, the online gaming companies were paying GST at 18% on gross gaming revenue (GGR). What this now means […]
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The Central Government through Director General of Goods and Services Tax Intelligence has approached the Supreme Court challenging the Karnataka High Court decision quashing INR 21,000 crore tax notice against GamesKraft. The GST department had initiated the action against skill gaming operator GamesKraft last year and the gaming company soon filed a plea with the Karnataka […]
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The 51st GST Council meeting clarified that the 28% tax on online gaming and casinos at full face value will be levied on initial deposits. The decision has provided little bit of relief to the industry as imposition of tax on each contest entry amount would have increased the tax burden massively. The decision was […]
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Tamil Nadu IT Minister and ex-member of GoM, Palanivel Thiagarajan, recently talked about why the GoM recommended 28 per cent GST at full face value during an interview with CNBCTV18. During the interview, Thiagarajan revealed that there was no doubt about the GST rate but, instead, a series of questions. These include identifying the law, […]
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Congress MP Manish Tewari questioned Minister of State for Finance Pankaj Chaudhary in the Lok Sabha on Monday over 28% GST on online gaming, casinos and horse racing. Tewari asked if the government is engaged in any deliberations regarding the imposition of the new tax rate and whether the government has contemplated the consequences of […]
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Offshore gaming firms will be mandated to register under GST Law according to the proposed amendments accessed by Team G2G. The amendments are in the backdrop of the GST Council approval to impose 28% tax rate uniformly across online gaming, casinos, and horse racing. GST Council is meeting on Wednesday to approve the proposed amendments […]
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The IPO for blockchain, AI, and game development firm Yudiz Solutions Ltd will open on August 4, 2023 as per director Suraj Chokhani, who revealed the details in a LinkedIn post today. As reported earlier, the listing will take place on the National Stock Exchange’s NSE Emerge platform. The lot size comprises 800 shares of […]
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Two more online gaming companies has been handed show-cause notices by the Directorate General of Goods and Services Tax Intelligence (DGGI) for alleged tax evasion amounting to Rs 3,000 crore. The notice handed to these companies are similar to what Bengaluru-based Gameskraft Technology received for alleged GST evasion back in September 2022. Speaking to moneycontrol, […]
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Realme Narzo 60 5G was recently unveiled by the brand. While many reckon that this phone has a striking similarity to the Realme 11 Pro in terms of design and build, it offers much more. It is also being considered as a good device for those looking for a gaming smartphone under a tight budget. […]
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