Online gaming: GST hike pauses FDI, 33% firms face losses, 17% seek buyers
There has been no FDI post-October 1, 2023, in the online gaming sector that attracted $2.6 billion since 2019, says a report by EY and USISPF
gst on online gaming
June 2024
August 2023
July 2023
Parliament passes GST amendment bills defining online money gaming, use of crypto assets
The Integrated Goods and Services Tax (Amendment) Bill, 2023 too was passed by the Parliament today.
FM to table CGST, IGST amendment bills today to tax online games at 28%
The amendments aim to provide enabling provisions to tax online games at 28%.
Mobile Premier League sacks 350 employees over 28% GST on online gaming
The country's popular gaming platform has cited the 28% GST proposed on online gaming platforms from October 1 as the primary reason behind the recent layoffs
28% GST on online game to be effective from Oct 1: FM
Nirmala Sitharaman said the Centre plans to move the amendments on taxing online gaming at 28% in the ongoing session of the parliament.
GST Council likely to define online gaming, virtual digital assets tomorrow
Clarifications and clear definitions of various aspects of monetary bets, deposits, use of digital virtual assets in the gaming ecosystem are likely to be taken up by the GST Council.
28% GST on online games to stay; Council meet may discuss law tweaks, clarifications
Amid major push back from the online gaming industry against the 28% GST imposed on the sector last month, the Centre has indicated that the high slab on the sector is here to stay.
GST Council meet on Aug 2 to discuss 28% tax on online gaming
In its meeting on July 11, GST Council recommended online gaming to be taxed at 28% on full face value, along with horse racing and casinos
28% GST on online gaming: Top Indian, foreign investors urge PM Modi to roll back decision
Investors rue the latest decision to impose proposed GST on 'full value of bets' will increase tax burden by 1,100%, and 50-70% of every rupee will go towards GST, making biz model “unviable”
127 cos write to PM, FM; seek reversal of 28% tax on online gaming
Online gaming players say the decision has caused "significant distress" in the industry, and that it'll reverse the growth the gaming industry in India has seen so far
