gaming – Page 7 – storyboard18

SC ruling on Gameskraft GST case could decide fate of India’s real-money gaming industry

The Supreme Court recently stayed the Karnataka High Court's judgment that had quashed the GST department's show-cause notice to Gameskraft in May 2023. (Representative image by Michał Parzuchowski via Unsplash)

The skill-based gaming industry, which will now pay higher GST, will be further hit if the Supreme Court ruling is unfavourable, making them pay retrospective GST liabilities.

Why Ashneer Grover thinks Rs 20,000 crore annual marketing spend in gaming might come to a halt

Grover on March 12 tweeted, “SBI Chairmen seem to be petty people. And something very wrong at their core. I learnt it the hard way. So did SC. ;)”

According to Ashneer Grover, who was the co-founder of BharatPe, the margins in gaming are too thin to justify continued marketing spending.

Google to allow real-money games on Play Store after implementation of gaming rules

Financial Times reported on Google’s possible revenue shake-up, stating, "Google is looking at options including adding certain AI-powered search features to its premium subscription services, which already offer access to its new Gemini AI assistant in Gmail and Docs, according to three people with knowledge of its plans." (Representative Image: Brett Jordan via Unsplash)

Google is providing a grace period for daily fantasy and rummy apps on Play Store until January 15, 2024, as the year-long real-money gaming pilot is set to end in September.

Ashneer Grover: Banning or targeting gaming has become a politically fashionable move

Last week, Grover had posted on X platform (formerly Twitter) about the equity allocation and secondary components undertaken during the unicorn’s Series E funding round. The $370-million fundraise valued the payments and financial services fintech at $2.86 billion

Ashneer Grover, who is the co-founder of BharatPe, says the survival of the gaming industry now hinges on organic growth. In an exclusive interview with Storyboard18, he says, “The gaming industry is a decade old, and the distinction between games of skill and games of chance has already been legally settled in the courts, including the Supreme Court. The only path forward, once approved by the courts, is through legislation…Gaming is not a vice; it has the potential to generate significant employment and government revenue.”

Gameskraft case: SC stays Karnataka HC’s judgment quashing Rs 21,000 cr GST notice

Moving on from taxes and revenues, the report also said that India’s online gamers are expected to grow at a CAGR of 5 percent and reach 53.8 crore by FY28. (Representational image via Unsplash)

In September 2022, a GST intelligence unit issued a show-cause notice to Gameskraft Technology alleging that the company failed to pay Rs 21,000 crore in GST, the biggest such claim in the history of indirect taxation.

10 years on, gaming, e-sports will be much bigger, says Nikhil Kamath

The WTF Fund heralds a new chapter in the Indian creator scene, dedicated to discovering and nurturing promising talent.

The Zerodha co-founder, whose stake in Nazara Technologies is set to rise to 3.5 percent, says gaming and e-sports will grow at a pace faster than old-school content.

No Luck By Chance: IIT study shows skill prevails over fate in online poker, rummy

India's sizable youth population is identified as a driving force behind the gaming sector's growth, with India and China collectively contributing to 50% of the world's data traffic.(Representative Image: Onur Binay via Unsplash)

As per the report, in both games, skill improves as users play more and more games, and there’s no difference in this whether the games are played online or offline.

Nazara Technologies secures Rs 100 crore investment from Zerodha founders

The new directors join chief executive officer Anirban Mukherjee and chief finance officer Arvind Agarwal on the board of PayU India. (Representative Image: Towfiqu barbhuiya via Unsplash)

Among other things, the infusion of fresh funds will be utilized to invest in funding requirements and growth objectives of the company for making strategic acquisitions and investments in various companies.

Krafton’s BGMI game gets Indian government nod after 3-month trial

This move comes after Free Fire, a rival battle royale game from Singapore tech giant Sea's gaming arm Garena, also made a comeback to the country after being suspended for about one and a half years.

Krafton resumed the operations of its popular battle royale game Battlegrounds Mobile India (BGMI) on a three-month trial basis in May 2023.

Esports celebrities are going to be superstars of the future: KRAFTON’s Srinjoy Das

KRAFTON is addressing BGMI as a cultural session for the first time, says Srinjoy Das, Associate Director, Marketing, KRAFTON India.