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GST Council retains 28% tax on online gaming, review planned after six months

In the letter, Chandra alleged that hasty steps are being taken in the merger process and the SEBI investigations do not bother him as much as the timing of the new notice. (Image via Twitter)

While stakeholders had limited expectations of a tax rate change, they remained hopeful for possible revisions in the valuation methodology.

RMG platform Quizy, shuts down citing tax burden as the reason

In the post announcing the shutting down of Quizy, Yadav also urged policymakers and industry stakeholders to engage in meaningful dialogue and collaboration to strike a balance that supports innovation, economic growth, and responsible gaming. (Representational image by Tim Mossholder via Unsplash)

The real money gaming platform shuts down citing tax burden reasons amid GST-related challenges. Founder Sachin Yadav announces the closure on LinkedIn.

India’s proposed 28% GST on online gaming among the highest in the world

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)

Most countries tax online gaming below 20 percent; the proposed rate may push players to the illegal market, says a report. The UK, for instance, follows a rake fee based model taxed at 21 percent. Pennsylvania, US, also follows the same model and the taxes are 14 percent on online poker and 15 percent on fantasy games. Belgium, Denmark, Sweden and Germany also follow the rake fee based model and are taxed between 11 percent and 19 percent. Countries like South Africa, Singapore and Australia that levy taxes on deposits have tax rates between 7 percent and 15 percent. All less than India.

Esports businesses clarify: 28% GST applies only to real-money gaming, not esports

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)

The esports industry is expected to grow over fourfold from Rs 250 crore in 2021 to Rs 1,100 crore by 2025.

GST Council likely to meet on August 2 to discuss online gaming tax treatment, law changes

The bench comprising Justices Surya Kant and KV Viswanahan has informed the Ajit Pawar Group that serious action will be taken if the order wasn’t obeyed.

The GST Council has no plans to reconsider its decision to impose 28 percent tax on online gaming, as per sources.

Video gaming firms urge PMO for distinct recognition, separate from RMG, Fantasy Sports

Mobile Premier League announced 350 layoffs, Rush Gaming Universal let go of 55 people, Spartan poker fired 125 people and real money gaming platform Fantok suspended operations.

The letter highlights the significance of Video Games as an artistic and narrative entertainment medium, recognized and heavily supported by various countries for their soft power projection and export revenue.

GST on Gaming: Video game industry less affected financially by 28% GST regulation, says Anuj Tandon of JetSynthesys

Anuj Tandon, CEO Gaming, JetSynthesys says, "Sachin Saga Pro Cricket is undoubtedly for Sachin Tendulkar’s fans who have admired his game and desire to at least replicate playing like him virtually. They can get an in-depth understanding of his entire cricketing career thanks to it. It also appeals to younger mobile gamers who are interested in multiplayer and live event gaming, as well as cricket fanatics who like playing cricket simulation games on their mobile devices. With its excellent graphics and user interface, this game offers plenty to draw in everyone."

Anuj Tandon, CEO, Gaming at JetSynthesys talks about their new Sachin Saga game, marketing and monetizing mobile games in India and how GST doesn’t impact video games.

Obliterate gaming from the face of India as it goes against our social values: Gamer writes open letter to protest 28% GST

Gamer Deep Patel writes an open letter to the revenue secretary on behalf of the gaming community.

GST’s painful impact on gaming industry’s top earner: How real money gaming will suffer

On the other end of the spectrum, larger players are grappling with losses by implementing as much as 50 percent reductions in marketing expenditures. This is only the beginning, said experts, adding, there will be more pink slips, restructurings and shutdowns. (Representative Image: Michał Parzuchowski via Unsplash)

There are 507 million Indian gamers of which 120 million are paying users and RMG revenues currently constitute 57% of market size.

Explained: Here is why your video games would not become more costly

Mobile Premier League announced 350 layoffs, Rush Gaming Universal let go of 55 people, Spartan poker fired 125 people and real money gaming platform Fantok suspended operations.

Video games that do not involve any betting or gambling element in them are not subject to the 28% GST slab. This means that gamers can continue to enjoy video games without having to worry about paying extra taxes.