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Topic: Online Gaming

Professor Isaac Joel Raj S, Head, Department of Animation and Gaming, KLH Global Business School, Hyderabad, says the influence of 28% GST on job possibilities for online gaming courses graduates may vary depending on the circumstances and policies Gaming 

Impact of 28% GST on Online Gaming on Job Prospects – A Hyderabad College Professor’s Insight

Nitin Misra,

Could the dispute regarding the 28% goods and services tax (GST) on online gaming impact employment opportunities within the industry? At a time when the industry is unhappy with the move, ReturnByte spoke to colleges that teach students online gaming with a focus on art and design, programming, animation, augmented reality (AR) and virtual reality (VR) about how they see the decision. Professor Isaac Joel Raj S, Head, Department of Animation and Games, KLH Global Business School, Hyderabad, said that the impact on employment opportunities for graduates of an online…

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Being the largest market for online gaming globally, India overtook China in total downloads this year with a 17% share of global game downloads. (MINT_PRINT) Gaming 

Impact of Tax Increase on India’s Online Gaming Companies Could be Severe

Adarsh V.K,

Over 125 companies in India’s emerging online gaming industry have cautioned the government about the potential consequences of a significant increase in tax rates by the Goods and Services Tax Council. They fear that this decision could lead to substantial losses in investments and job opportunities within the sector. Earlier this week, the council imposed a 28 percent levy on the full face value of online gambling. It’s a blow to an industry that serves more than 420 million Indians, a customer base larger than the population of the United…

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The government on Tuesday announced the levy on the $1.5 billion online gaming industry., (Pixabay) Gaming 

Official Warns of Risk Involved in Indian Online Gaming Companies Moving to Avoid Taxation

Adarsh V.K

On Thursday, Vivek Johri, the head of the indirect taxes’ department, warned that Indian online gaming companies may potentially breach the country’s foreign exchange laws if they proceed with their plans to relocate overseas in order to evade a newly imposed 28% tax on the sector. New Delhi does not intend to introduce the tax retroactively, he said in response to speculation that it might do so. The government on Tuesday announced a tax on the $1.5 billion online gaming industry, which has grown in popularity in recent years and…

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Mark Zuckerberg announced that Roblox will soon come to Meta Quest VR headset. (Roblox) Gaming 

Mark Zuckerberg Announces Roblox Integration with Meta Quest VR Headset

Jim Hendler,

Roblox, a highly popular online gaming platform, is set to become accessible on the Meta Quest VR headset. Mark Zuckerberg initially disclosed this news on his Facebook account, which was subsequently confirmed by both Meta and Roblox through separate announcements. In the upcoming weeks, an open beta version of the app will be introduced in the Quest’s App Lab, paving the way for the official launch of the game platform. Announcing it, Zuckerberg wrote in a Facebook post: “Get ready: Roblox is coming to Meta Quest with an App Lab…

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Passing the costs to gamers is the most likely scenario at the moment, as companies will need to cover the higher taxes somehow. But, again, this could lead to a decrease in the number of gamers and a decrease in revenue for companies Gaming 

Online Gaming Companies Consider Moving to Court Over Government’s 28% GST Levy

Adarsh V.K,

Industry leaders are expressing concerns about the potential consequences of this move, emphasizing the likelihood of higher expenses for gamers, decreased investment, a rise in illegal gambling activities, job losses, diminished innovation, increased piracy, and harm to the industry’s reputation. When GST is passed on to gamers in the form of higher prices for games and in-game products, it makes gaming cheaper and may lead some people to pirate games instead of paying. As such a decision can make legal online gambling more expensive, people may also switch to illegal…

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The online gaming sector is not pleased with the decision from the GST Council which raises concerns about the future of the industry. Gaming 

GST Ruling To Cause Financial Losses For Online Gaming Industry: Industry Leaders

Jim Hendler, ,

The industry executives have been taken aback by the decision to impose a 28 percent GST on online gaming, horse racing, and other activities. They are uncertain about how the sector can thrive under these restrictions. “The GST Council’s decision to levy 28% GST on online games without differentiating between skill and casual games poses a serious threat to the growth and sustainability of the Indian online gaming industry,” said the management of Kick Games Studios Pvt. Ltd. Other players in the industry, such as Games 24×7, have also shared…

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Online gaming players have repeatedly urged the government and the GST Council to levy 18% GST on their segment instead of 28% that was recommended by the Group of Ministers (GoM) Gaming 

Industry Dismayed by GST Council’s Decision to Impose 28% Tax on Online Gaming

Adriana Marais, , ,

The 50th meeting of the Goods and Services Tax (GST) Council has decided to impose a 28% GST on the entire face value of online gaming. However, the gaming community, who had been anticipating this decision, views it as a disadvantage. Finance Minister Nirmala Sitharaman stated at a press conference that online gaming, horse racing and casinos will be taxed at 28 percent. There will be some changes in the GST Act to include online gaming, he added. However, Roland Landers, CEO of The All India Gaming Federation, stated that…

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Union Finance Minister Nirmala Sitharaman releases a stamp during the 50th meeting of the GST Council, at Vigyan Bhawan in New Delhi on Tuesday. (Shrikant Singh) Gaming 

GST Council Imposes 28% Tax on Revenue of Online Gaming Companies

Adriana Marais, ,

The Goods and Services Tax (GST) Council, led by Union Finance Minister Nirmala Sitharaman, has announced that online gaming companies will now be subject to a 28% indirect tax on their turnover. This decision was made during the council’s 50th meeting, where state finance ministers also discussed the taxation of casinos, horse racing, and online gaming. It has previously been unable to decide whether to impose the 28% GST on the face value of bets, gross gaming revenue or just platform fees. West Bengal Finance Minister Chandrima Bhattacharya said, “The…

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The girl left only Rs. 5 in her mother's bank account after making all her online game purchases. (Pexels) Gaming 

Girl Spends Over 5 Million Rupees on Online Gaming, Leaving Mother with Just Rs. 5

Nitin Misra, ,

A 13-year-old girl from China has caused her mother to suffer financial hardship due to her addiction to online gaming and in-app purchases. The girl reportedly stole a staggering amount of 449,500 yuan (Rs. 51,98,671) from her mother over a period of four months, according to a report by South China Morning Post. This incident highlights the dangers of excessive online gaming and the need for parents to monitor their children’s activities. How a 13-year-old girl spent huge sums on online gambling The mother of the girl, named Wang, only…

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