Secretary General of Confederation of All India Traders (CAIT), Praveen Khandelwal, has addressed a letter to the Prime Minister on behalf of CAIT listing the catastrophic implications of changes to GST on online gaming made by the GST council. The letter focused on the points previously mentioned by the online gaming companies in their open […]
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With recent changes in the GST on online gaming, casino and horse racing, the Govt of Maharashtra has decided to legalize the operation of casinos in the state. This decision comes after a reported increase in tax revenue for the state department. The bill will be presented in the upcoming Monsoon session of the parliament […]
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While the 28% GST rate on full face value amount has dealt a heavy blow to the online real-money gaming industry the knock-on effect is also likely to be seen on the fintech and regulatory tech industries which provide payment processing and KYC services respectively. According to some experts the new tax policy will increase […]
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In a last-ditch effort to stop the implementation of 28% GST rate on full face value amount for online games, executives from top real money gaming companies have now sought a meeting with government officials this week. The companies believe that with the new GST rate, the size of the real money gaming industry will […]
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A fortnight prior to its IPO, a blockchain, AI, and gaming-focused enterprise solutions technology company is looking to strengthen its core offerings by looking at acquisitions across India, the USA, Canada and Europe. The company will be spending Rs.12.31 crore from the total proceedings aggregating for acquisitions and expansion. Bharat Patel, Chairman and Director, said, […]
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Raipur Police have achieved yet another breakthrough in the ongoing action against illegal betting app Mahadev Book. Recently, the police arrested seven individuals from Kolkata and Bhilai for taking illegal bets on various sports events. The police received a tip-off about people taking illegal bets using the Mahadev Book app and acted on the same […]
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In the first Test match being played between Sri Lanka and Pakistan at Galle, several surrogate brands for illegal betting websites featured in adverts at the venue. The adverts seem to be restricted to boundary ropes and other on-ground brand placements, and aren’t promoting during over and innings’ break during the live broadcast. FairPlay, MELBAT, […]
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Kerala’s Finance Minister K N Balagopal recently opined his views on the GST Council’s decision to levy 28% GST on online gaming, casinos and horse racing. Balagopal believes that the decision is favourable to state. He also claims that it happened due to the state taking a strong stance on the issue. GST Council said […]
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Gaming Minister Melissa Horne and the premier of Victoria, Daniel Andrews, announced a number of changes to the state’s electronic gambling machines as a way to reduce gambling harm. With these proposed changes, poker machines in Victoria will now operate with a limit. These include mandatory closing hours, slower spin times and smaller spending limits. […]
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Leading senior counsel and Rajya Sabha member Dr. Abhishek Manu Singhvi on Saturday criticised the government’s decision to increase the tax rate on online real money gaming, casinos, and horse racing to GST on the full face value. Dr. Singhvi earlier represented gaming companies in several cases before various High Courts and the Supreme Court. […]
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