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GST ON FANTASY GAMING
Online gaming money tax dispute: GST to be charged on full value of the deposit, rules Supreme Court, know how it impacts the playersThe Supreme Court has settled India's online gaming tax dispute. GST will now be charged on the full value of player deposits, not just the...- SC upholds govt retrospective 28% GST levy on online gaming companiesThe Supreme Court has backed the government's retrospective 28% GST on online gaming. The court ruled that online gaming platforms are not ...
- Byju gets jail term; SC backs 28% gaming GSTLegal troubles compounded for Byju Raveendran as a Singapore court sentenced him to six months in jail. This and more in today’s ETtech Top...
- Madras HC upholds Tamil Nadu’s restrictions on real money gamesThe Madras High Court upheld Tamil Nadu's restrictions on real money gaming, including time and Aadhaar-based limits, dismissing industry c...
- Real-money gaming companies look for an ace to beat tax bluesCompanies are trying out restrictions on the withdrawal of deposits for shorter games like rummy and poker to avoid being hit by repetitive...
- Dream11 posts higher profit, revenue; auditor flags risk from GST demandDream11's auditor SR Batliboi & Co, an affiliate of EY, said the notices issued to the company by GST authorities seeking more than Rs 28,0...
- Dream11 withdraws plea against the state revenue department from the Bombay High CourtThe development came after the additional government pleader Jyoti Chavan appearing for the state authorities informed the court that the d...
- Dream11 acquires fantasy platform SixerSixer founder Amay Makhija announced the acquisition to users of the platform in an email. The size of the deal or the strength of Sixer’s ...
- Gamers put real money on table ahead of 28% tax regimePlatforms make special offers to lure heavy-duty gamers in the past 2 months; some clock as much as 300% surge in daily deposits.
- DGGI raises Rs 55,000-crore tax demand from Dream11, other online gaming companiesThis includes a notice of approximately Rs 25,000 crore to Dream11, making it possibly the largest indirect tax notice in India. More notic...
- Gameskraft to discontinue super app Gamezy amid Rs 21,000 crore tax demandThe company was building Gamezy Fantasy as a super app for online games which hosted multiple products. In addition to fantasy sports, Game...
- Deep dive into Meta's algorithms shows that America's political polarization has no easy fixThe four research papers, published in Science and Nature, also reveal the extent of political echo chambers on Facebook, where conservativ...
- Online gaming firms Nazara, MPL, Winzo, others seek review of 28% GST in open letter to governmentThe letter, a copy of which has been reviewed by ET, was signed by companies, including Nazara Technologies, Mobile Premier League (MPL) an...
- Fantasy gaming apps' revenue jump to Rs 2,800 crore during IPL 2023 amid debate of chance and skillThe Indian Premier League (IPL) season generated a gross gaming revenue of approximately Rs 2,800 crore, with 61 million users participatin...
- India’s likely 28% GST on gaming companies set to kill many players, hurt FDIs: WinZo Co-founder RathoreThe proposal of imposing a 28% tax on gaming companies still building IP and technology will lead to the destruction of newer gaming ventur...
- Tax heat on offshore online gaming companiesThe Directorate General of GST Intelligence has discovered 38 online gambling and betting portals that are based in Cyprus, Mauritius, and ...
- Fantasy Sports revenue to rise 30-35% to Rs 2,900-3,100 crore this IPL seasonRedseer Strategy Consultants, Partner, Ujjwal Chaudhry said there has been large awareness around fantasy sports platforms with higher mark...
- The gaping holes in India's Online Gaming (Regulation) BillGrouping skill-based gaming like online fantasy sports (OFS) with games that involve pure luck - something the Online Gaming (Regulation) B...
- Is Dream11 a gambling & betting site? This GST ruling settles the caseTencent-backed Dream11 offers an online fantasy game, wherein players can create different virtual sports teams, comprising as many players...
- Dream11, other eGaming companies face potential tax bouncer on GSTEssentially tax officials want to determine if GST is applicable on the total transaction value or the net commissions (revenues) that accr...
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