Starlight Gaming, a company of Softstar Entertainment Inc., launched their Battle Royale game, “Raider SIX,” with a media launch event on July 11 at the Four Seasons Hotel, Worli, Mumbai. Well-known gamers and bloggers were invited for the event to witness Raider SIX’s formal debut. The event witnessed a gathering of more than 100 esteemed […]
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Gaming News
Microsoft scores big as federal court denies FTC’s preliminary injunction in Activision deal
Microsoft won the legal battle against the Federal Trade Commission’s (FTC) preliminary injunction against its $69 billion acquisition of gaming giant Activision Blizzard. With this win, the company can move forward with its acquisition of Activision. While the larger case is still underway, the current win has raised hope for the company. The injunction was […]
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Noida-based not-for-profit organization Social Organization for Creating Humanity (SOCH) has addressed a letter to Prime Minister Narendra Modi regarding the issue of widespread presence of illegal betting and gambling websites. The letter highlights the rapidly growing trend of online gaming adoption among young people and how access to smartphones and internet has had them addicted […]
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India’s only listed hospitality and gaming company, Delta Corp, saw a drop in its share price after yesterday’s decision by the GST Council to levy a 28% tax on online gaming, casinos and horse racing at full face value. Delta Corp currently operates as Deltin and has three casinos in Goa – Deltin Royale, Deltin […]
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Gaming News
28% GST rate on online gaming will have minimal impact on our overall revenues: Nazara Tech
The decision by the GST Council to tax online gaming at 28% on full face value amount has shaken the industry. Nazara Technologies, in a statement this morning, has tried to allay the fears of investors and market participants, stating that the changes in taxation will have minimal effect on the company. The company has […]
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Revenue Secretary Sanjay Malhotra on Tuesday said the government will continue to fight the existing cases pertaining to GST demands on online real money gaming companies in courts. “28 per cent tax was always the case in online gaming. Today’s decision is only to clarify it and put an end to that debate,” he said […]
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Gaming News
Online gaming industry miffed by GST Council’s decision to levy 28% tax on full face value amount
The GST Council, in its 50th meeting today, finalized the tax rate on online gaming, casinos and horse racing and it did come as the D-Day for the industry. The tax rate on all the three supplies will be 28% on the full face value amount and the changes will be implemented after the GST […]
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Online skill-based gaming platform Zupee has appointed Akanksha Dhamija as its chief operating officer (COO). She has been elevated from her previous position of senior vice president of Growth and Strategy. Dhamija will still handle the overall business growth and strategy. According to the official release, Dhamija has over 13 years of experience in the […]
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The eSports Players Welfare Association (EPWA) shared a report on the rapidly growing gaming industry in the backdrop of the 50th GST Council meeting that is underway and deliberating on the tax rate for the online gaming sector. The association stated that esports should not be taxed in the same manner as real money gaming […]
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The GST Council is scheduled to meet tomorrow and among the agenda items is the taxation of online gaming, casinos, and horse racing. This will be the 50th meeting since inception of the council and will be chaired by Finance Minister Nirmala Sitharaman and is expected to be attended by the Union Minister of State […]
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