As online gaming evolves every day, many companies are now hopping on in the gaming sector. One of them includes YouTube. The Google-owned company has confirmed that it is testing out “Playables”. Notably, this feature will provide a list of games on its platform. The feature, however, is a limited test where few users will […]
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Nazara Technologies Ltd’s board has approved to raise Rs 410 crore through an equity issue from SBI Mutual Fund. The company will be issuing 57,42,296 shares at a price of Rs 714 each to SBI Mutual Fund. The investment from SBI Mutual Fund will be through SBI Multicap Fund (Rs 200 crores), SBI Magnum Global […]
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On Wednesday, September 6 the Supreme Court stayed the decision of the Karnataka High Court quashing the GST show-cause notice issued to Gameskraft for Rs 21,000 crore. With this, the GST department can resume proceedings in the Gameskraft matter for now. This development comes as a heavy blow to the online real money gaming (RMG) […]
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The state governments have started rolling out amendments to their respective state GST enactments to implement the proposed 28% GST tax rate for online gaming, casinos, and racecourses. These are corresponding changes to CGST amendments carried out last month by the central government which are necessary for implementation of the tax rate change approved by […]
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The central government today notified amendments to CGST Rules 2017 towards implementing the 28% tax rate for online gaming, casinos and horseracing. The rules will be effective on a date to be notified by the government which tentatively will be October 1, the proposed date of implementation of the new tax regime. As deliberated by […]
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The Enforcement Directorate (ED) been working aggressively on the busting Mahadev Book’s illegal betting operations. Working further in the matter, ED has now summoned and questioned CM Bhupesh Baghel’s political advisor Vinod Verma’s family members. Verma disclosed that his sons Punarvasu, Tathagat and brother-in-law Tukendra Verma have been summoned. Verma also said that tomorrow his […]
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Google Play Store’s pilot programme is set to end soon. As a result, daily fantasy sports and rummy apps under real-money gaming category will be allowed on Play Store only after formation of Self Regulatory Body (SRB). Notably, the year-long pilot program was started in September 2022. In the program, the government approved fantasy sports […]
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On Sunday, September 3 the Enforcement Directorate (ED) raided Jubesta Hospital and its operator’s residence in Devendra Nagar, Raipur, in connection with the Mahadev Book illegal betting app scam. During the raid, several documents containing transactions, cash, and jewelry were recovered. The son and son-in-law of the hospital operator Dr. Dalla are currently being interrogated. […]
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The second seven-day Enforcement Directorate (ED) custody of four individuals booked in the Mahadev Book illegal betting app case ended on Tuesday, September 5. Consequently, the four accused were presented in the court of Special Judge Ajay Singh Rajput and sent to judicial remand till September 15. The ED is said to have extracted useful […]
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The long awaited GST Department appeal in the GamesKraft INR 21,000 tax demand matter was heard today by a three member Supreme Court bench headed by Chief Justice. N. Venkatraman, the additional solicitor general appearing on behalf of the GST Department submitted that the single bench of the Karnataka High Court has made serious allegations […]
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