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Karnataka Information Technology and Bio Technology minister Priyank Kharge opposed the decision of the GST Council to impose 28% tax rate on full face value amount on online gaming. Talking about the impact, the IT minister said that the decision might potentially hinder India’s goal to become a US$ 1 trillion digital economy by 2025. […]
The post GST Council’s decision on online gaming will hinder $1 trillion digital economy goal: Karnataka IT minister appeared first on G2G News.

The recent announcement made by the GST Council has disappointed the entire online gaming industry who believe that many companies will now face a heavy tax burden and slower overall growth. The Council did not make any difference between skill-based and chance-based games, and the companies will have to pay 28% GST on full face […]
The post Draft Amendments to GST Act to clarify rate of 28% on face value sent to states appeared first on G2G News.

State representative on the GST council and Goa Transport Minister Mauvin Godinho believes that the tax hike on casinos would harm the sector moving forward and called it “a negative factor for the industry.” Goa was already in support of taxation on gross gaming revenue (GGR) and not on full face value. Godinho said that […]
The post GST Council’s decision will be a negative factor for the industry and hamper fresh investment: Goa Transport Minister appeared first on G2G News.

The online gaming industry was dealt a heavy blow yesterday after the GST Council announced 28% tax rate on full face value amount. Entrepreneur Ashneer Grover of Shark Tank fame, who recently stepped into the fantasy sports space with his venture CrickPe, shared his frustration on the development. Much like others, Grover, through his Tweet, […]
The post ‘Why judgement on online gaming now?’ – Ashneer Grover criticizes GST Council’s decision appeared first on G2G News.

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 […]
The post Starlight Gaming launches their first-ever Battle Royale game ‘Raider SIX’ in Mumbai appeared first on G2G News.

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 […]
The post Microsoft scores big as federal court denies FTC’s preliminary injunction in Activision deal appeared first on G2G News.

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 […]
The post Noida-based NGO writes to PMO to curb menace of illegal betting and gambling websites appeared first on G2G News.

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 […]
The post Delta Corp, Nazara Tech see massive dip in share prices after recent GST changes appeared first on G2G News.

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 […]
The post 28% GST rate on online gaming will have minimal impact on our overall revenues: Nazara Tech appeared first on G2G News.