The decision to impose a 28 per cent tax on the full face value of bets placed on online games will be implemented from October 1. ((AFP))

Is the Government Providing Tax Relief to Online Gaming Companies?

Adarsh V.KAugust 3, 23delhi, Nirmala Sitharaman, Online Gaming

In a change of stance, the government has taken steps to offer some respite to online gaming companies. According to Finance Minister Nirmala Sitharaman, the government has opted to impose taxes on the overall funds deposited for playing online games, rather than on each individual bet, as reported by Reuters on Wednesday. Last month, the government announced that it had decided to impose a 28 percent tax on the funds that online gaming companies collect from their customers for each bet. Finance Minister Nirmala Sitharaman said on Wednesday that the…

Finance Minister Nirmala Sitharaman on Tuesday said the GST Council is deliberating on taxation policy for online gaming and exuded confidence that the sector will attract investment once it is finalised.

News

Online gaming to attract investment after tax policy is finalised: Nirmala Sitharaman

Febin MathewMay 6, 23Business, Games, Gaming, India, Investments, Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said the GST Council will discuss the taxation policy for online gaming and expressed confidence that the sector will attract investment once finalized. He was responding to a question from Korean gaming company Krafton about which games India plans to attract foreign investment in gaming companies. The Minister said that the GST Council will hold ministerial-level discussions on various aspects of online gaming, including taxation and regulation. The Goods and Services Tax Council is chaired by Sitharaman and consists of state finance ministers. “When…