- 13 Jul 2023 05:17 PM
- New
Steep tax will shrink prize pool, dissuade players, say gaming firms
The online real-money gaming (RMG) industry in India is reeling after the decision by the Goods and Services Tax (GST) Council to impose a 28% tax on the entire entry fee rather than just the platform fee. Industry associations and companies argue that this move will not only restrict cash flow, but also diminish players’ motivation to participate on legitimate sites, driving them towards illegal offshore betting companies.
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- 13 Jul 2023 05:20 PM
- New
Utility vehicles may see price hikes but demand to be in top gear
Higher-end passenger vehicles (PVs) will likely see price hikes following changes in taxation rules by the GST Council, which has modified the definition of vehicles that will attract a compensation cess of 22%, additional to the 28% tax rate.
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- 13 Jul 2023 05:27 PM
- New
Perverse incentives explain why GST is a confusing mess
The Goods and Services Tax (GST) Council recently decided to treat multi-utility vehicles (MUVs) with a minimum length of four metres, an engine size of at least 1,500cc, or a ground clearance exceeding 170 mm as sport-utility vehicles (SUVs). These vehicles used to attract 20% GST but will now attract 22% GST. MUVs that don’t match the prescribed criteria will continue to attract 20% GST.
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- 12 Jul 2023 05:29 PM
‘Gamers must not be taxed the same way as gamblers,’ E-sport body says on 28% GST proposal on online games
Ahead of the 50th GST Council meeting, the EPWA has warned that a proposed 28% GST on online gaming could discourage players and harm the industry.
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- 12 Jul 2023 05:36 PM
50th GST Council Meeting: What Might Become Cheaper/Costlier | Watch
Business News/ Videos / 50th GST Council Meeting: What Might Become Cheaper/Costlier | Watch
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- 12 Jul 2023 05:41 PM
GST Council clears 28% tax on online gaming on full face value amount, reduces GST on food served in cinema halls
GST Council clears 28 per cent tax on online gaming on full face value amount: West Bengal finance minister
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- 12 Jul 2023 05:51 PM
GST Council reduces tax on food served in cinema halls to 5%; check details
The GST Council, in its 50th meeting today decided to reduce tax on food served in cinema halls from 18 per cent to five per cent.
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- 12 Jul 2023 05:53 PM
Full list of items to be costlier and cheaper after 50th GST Council meet
The GST Council has decided to impose a 28% tax on online gaming, horse racing, and casinos. Cancer fighting drugs and medicines for rare diseases are exempted from GST tax
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- 12 Jul 2023 05:57 PM
New data tools can help analyse pixel-level economic dynamics
India was internally reorganized when the system of linguistic states was created in the first two decades after Independence. B.R. Ambedkar gave a succinct summary of the underlying principles: every state would have one dominant language, but every linguistic group need not be consolidated into a single state, which is why there are multiple Hindi-speaking states or why we have two Telugu states today.
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- 12 Jul 2023 06:00 PM
Ashneer Grover slams govt over 28% GST on online gaming: 'Time to enter politics or....'
Ashneer Grover had recently launched his own fantasy gaming named Crickpe
GST Council has decided that online gaming, casinos, and horse racing will be taxed at 28%