- 12 Jul 2023 06:08 PM
- New
Online gaming industry hit by 28% tax; industry experts flag red, ask to rethink
‘It was good fun being part of the fantasy gaming industry - which stands murdered now. $10 Bn down the drain in this monsoon’, said Ashneer Grover
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- 12 Jul 2023 06:17 PM
- New
Delta Corp shares in focus tomorrow after GST Council clears 28% tax on online gaming
Delta Corp is a gaming and hospitality corporation that owns and operates casinos and hotels under several brands.
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- 12 Jul 2023 06:20 PM
- New
'Implementation of 28% GST rate will bring challenges to online gaming industry'
Finance Minister Nirmala Sitharaman on Tuesday said that the GST Council has decided to impose 28% tax on the turnover of online gaming, horse racing and casinos on full face value.
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- 12 Jul 2023 06:23 PM
From 5% to 28% GST rates, here are key highlights of 50th GST council meeting
The 50th meeting of the GST Council concluded on Tuesday with the goods and services tax rate trimmed down to 5% in four items. Also, the council exempted GST on several imported pharma products. However, one of the biggest highlights was the 28% tax rate imposed on the full value of online gaming which is likely a setback for Indian players. The Revenue Secretary also clarified concerns related to ED interference in GSTN.
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- 12 Jul 2023 06:27 PM
‘PMLA has nothing to do with GST’: Govt amid row over ED info sharing decision
The Centre's decision to allow the Enforcement Directorate to share information with the GST network has caused outrage among the Opposition. Critics argue that the amendment could affect traders paying taxes, while officials maintain that PMLA is unrelated to GST rules.
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- 12 Jul 2023 06:30 PM
GST Council decides on 28% tax on online gaming, horse racing, casinos; exempts tax on certain imported drugs
New Delhi: Federal indirect tax body the Goods and Services Tax (GST) Council on Tuesday exempted integrated GST (IGST) levied on select drugs when imported for personal use, redefined sports utility vehicles to prevent car makers side stepping the highest tax bracket and decided on levying 28% uniform GST on online gaming, horse racing and casinos on the full-face value of bets.
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- 12 Jul 2023 06:33 PM
GST shock: Online gaming, casinos to be taxed at 28%
NEW DELHI : The Goods and Services Tax (GST) Council on Tuesday exempted integrated GST on select drugs when imported for personal use, redefined sport utility vehicles (SUVs) to prevent carmakers from side-stepping the highest tax bracket and levied a 28% uniform GST on online gaming, horse racing, and casinos on the full value of the bets.
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- 12 Jul 2023 06:36 PM
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
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
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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