Page 5 - Online Gaming

Gaming body welcomes govt's diktat on online betting advertisements

The ministry said it had issued a similar advisory on June 13, asking newspapers, private TV channels, and digital news publishers to refrain from publishing ads of online betting platforms

Top Headlines: PSBs to hire on monthly basis, Sebi goes to SC, and more

The Securities and Exchange Board of India (SEBI) has moved the Supreme Court against New Delhi Television (NDTV), the media company said

India's $2-billion online gaming industry jolted by taxing times

The $2 billion online gaming industry in India, while grappling with these issues, the online gaming industry should be treated as entertainment and not gambling, as it comes under the games of skill

Online gaming: ED raids company, freezes Rs 68 crore worth of deposits

The Enforcement Directorate has frozen more than Rs 68 crore worth of deposits after it raided a company and its related entities that ran mobile games and allegedly duped a number of people, including children, by extracting "unauthorised" payments from them and later transferred these to Singapore. The federal probe agency said in a statement that it searched three premises of Coda Payments India Pvt Ltd (CPIPL) as part of a money laundering investigation and added the company has collected Rs 2,850 crore till date, out of which Rs 2,265 crore was remitted "outside" India after retaining certain percentage of revenue for payment of taxes and nominal profits here. The ED said the company ran mobile games such as Garena Free Fire, Teen Patti Gold, Call of Duty and its money laundering case against the company was registered after taking cognisance of multiple police FIRs filed against the company and in some cases, the gaming portals too. "It is alleged that Coda Payments India Pvt.

Industry considers options as Tamil Nadu ordinance bans online gaming

Sector takes hope from High Courts previously overturning such prohibitions by state governments

Gameskraft Technology faces Rs 21,000-crore tax notice for 'GST evasion'

The Council is expected to meet next month to take up the panel's report on the issue

WinZo sues Google for allowing limited categories of real-money games

Challenges inclusion of only DFS and Rummy on Google Play Store, calls the policy an unfair trade practice

SJM calls for cap on entry fees for online games amid regulatory push

"Ticket size should be regulated. It should not be more than 50 rupees. This is an addiction," said Ashwani Mahajan, an official of the Swadeshi Jagran Manch

Winzo sues Google to stop new gaming policy, calls it discriminatory

Online gaming platform Winzo has sued Google to stop the tech giant from allowing real-money games for fantasy sports and rummy on its platform

Govt panel calls for regulatory body, new law for online gaming: Report

In its confidential draft report dated Aug 31, the panel of govt officials calls for creation of a new regulatory body under IT ministry to determine which online games qualify as games of skill

Top headlines: AI puts in place transformation plan;BPCL divestment stalled

The carrier, which plans to induct 30 new wide-body and narrow-body aircraft, on Thursday announced 'Vihaan.AI', a comprehensive transformation plan with a detailed road map for next five years

Playing on the 5G success: India's gaming sector set to get a boost

India's gaming user base saw massive growth during the pandemic, but network issues and performance have frustrated many enthusiasts

UP joins lottery lobby as West Bengal pushes for 28% GST on online gaming

West Bengal, a state with a flourishing lottery business, has been joined by Uttar Pradesh, where there is a lottery ban, to push for a 28 per cent GST for online skill gaming

Industry hails decision to separate gaming from gambling, horse racing

In July, the GST Council announced a 28 per cent tax on the industry, which experts and companies largely agreed to. Currently, an 18 per cent tax is applicable on the gross gaming revenue (GGR)

GoM for different GST on sports betting, casinos and horse racing

Group of ministers to seek legal opinion for the move

GoM on casinos, online gaming taxation may finalise report in 7-10 days

A panel of state finance ministers on taxation of casinos and online gaming on Monday met and decided to seek legal opinion on valuation criteria for all these segments. The Group of Ministers (GoM) headed by Meghalaya chief minister Conrad Sangma said, "After taking the opinion of stakeholders and after successive meetings to seek the suggestions of all members, we will take legal opinion before submitting the final report". The GoM on casinos and online gaming taxation is likely to finalise its report in 7-10 days, he said after the meeting here. The panel in an earlier report had proposed to the GST Council to levy 28 per cent GST on gross sales value as horse racing, online gaming and casinos are akin to betting or gambling. Sources said the GoM is open to considering different rates and valuation mechanisms for online gaming, casinos, and horse racing. The government in May last year set up a panel of state ministers for better valuation of services of casinos, online gaming

Top Headlines: Unrealistic deadlines for EVs, Mistry's demise, and more

Cyrus Mistry, former chairman of Tata Sons and scion of the Shapoorji Pallonji group, died in a car accident near Mumbai on Sunday.

Tax dept unearths Rs 58,000 cr in winnings of players on Indian gaming app

Winners have to pay about Rs 20,000 crore in tax

No direct relation between suicide, online gaming: Expert to TN govt

"There isn't sufficient data available both before and after online gaming was legalized to correlate suicide with online gaming," the research concludes

GoM on casinos, online gaming to submit report to FM in 1-2 days: Report

The GST Council is likely to meet towards the end of this month or early September and discuss the report of the Group of Ministers (GoM), the sources added.