- 12 Jul 2023 06:36 PM
- New
Stiff tax on gross revenue spooks online gaming cos
NEW DELHI : The Goods and Services Tax (GST) Council on Tuesday decided to tax online gaming companies at 28% of their gross revenue, or full face-value of transactions and entry fees paid by gamers, disappointing an industry that has lobbied for months to be taxed on its profit rather than revenue.
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- 12 Jul 2023 06:41 PM
- New
IT drags Sensex below 65,400, Nifty ends 55 pts lower; Infosys, Adani Ent shed
Share Market Today: Sensex and the Nifty ended in the red after a sharp fall towards the end with IT stocks dragging the market, while PSU Bank sector remained steady.
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- 12 Jul 2023 06:44 PM
- New
GST on Online Gaming: Delta Corp share price tanks 20%, Nazara Tech share price drops 5% on 28% tax levy
28% GST on online gaming, casinos: Shares of online gaming stocks such as Nazara Technologies and Delta Corp suffered massive losses in early trade on Wednesday (July 12) after the GST Council shocked the industry by levying a 28 per cent uniform GST on online gaming, casinos and horse racing.
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- 12 Jul 2023 06:47 PM
Innova Crysta, Alcazar, Hector Plus, Scorpio-N among vehicles set to attract 22%
The GST Council has clarified that ground clearance refers to unladen conditions. MUVs with engine capacities less than 1500cc will continue to attract a 20% cess. The implications of the 'unladen' ground clearance specification need further clarity.
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- 12 Jul 2023 06:50 PM
'India is super fun': Ashneer Grover slams policymakers over 28% GST on online games
Ashneer Grover, co-founder of CrickPe, criticizes the Indian government's decision to impose 28% GST on online gaming companies, calling it detrimental to the industry.
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- 12 Jul 2023 06:53 PM
Delta Corp share price tanks over 27% in one day: Should investors buy, sell or hold?
Delta Corp share price cracked nearly 28% on Wednesday, recording its biggest single-day fall ever, after the GST Council levied a 28% uniform GST on online gaming, casinos and horse racing.
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- 12 Jul 2023 06:56 PM
‘Game Over’: How 28% GST Could Kill The Gaming Industry | Explained
Business News/ Videos / ‘Game Over’: How 28% GST Could Kill The Gaming Industry | Explained
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- 12 Jul 2023 06:59 PM
28% GST rate on online gaming impact: Why Nazara Tech shares fall is limited while Delta Corp stock drop nearly 30%?
The 28% GST rate imposed on the full value of online gaming stole the limelight after the 50th GST Council meeting. On the expected lines, online gaming stocks reacted on a bearish note on Wednesday. Experts believe the 28% tax rate is a setback for Indian players. Interestingly, Rekha Jhunjhunwala-backed Nazara Technologies' share price fall is limited, on the other, Delta Corp stock is bleeding to drop by nearly 30%.
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- 11 Jul 2023 06:32 PM
Rationalisation in GST rates should be implemented gradually, says CBIC Chairman Vivek Johri ahead of Council meeting
Vivek Johri, Chairman of CBIC, has stated that any changes to GST rates should be implemented gradually to ensure stability of revenues. He expects the current slab structure to eventually converge towards three or four rates.
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- 11 Jul 2023 06:38 PM
GST Council meeting tomorrow: Opposition states likely to pressure Centre over compensation
Compensation to states for lower-than-promised revenue growth under the GST system may be discussed at the GST Council meeting. Opposition-ruled states such as Kerala and Chhattisgarh are likely to raise the issue.
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