๐ Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. ๐ฅ
โ
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator โ
Log In
News on Medial
Gaming firms offer to pick up tax bill to keep players hooked
Economic Times
ยท
1y ago
Medial
Online gaming platforms in India such as Dream11, Mobile Premier League, and Games24X7 are offering personalized offers and schemes to keep regular gamers and influencers engaged amid an increase in tax liability. The goods and services tax rate on real money gaming has been raised to 28%, resulting in platforms subsidizing the new tax liability through deposit offers and bonuses. The increased tax rate has driven users towards offshore and illegal gaming platforms that evade taxes and lack consumer protection measures, potentially impacting the growth of the online gaming industry in India.
View Source
Related News
Setback after cashbacks: Gaming industry faces fresh GST trouble - The Economic Times
Economic Times
ยท
1m ago
Medial
The real money gaming industry in India is facing fresh challenges from GST authorities. Tax officials demand GST on cashbacks and bonuses given to players, treating these as taxable under Rule 31B. This intensifies the ongoing conflict over retrospective GST collection from 2017 to 2023. Gaming companies argue this interpretation is flawed and plan to challenge it in the Supreme Court. Some firms are considering forming a collective legal strategy as the tax issue gains momentum.
View Source
40 online gaming firms to get notices for tax evasion: Report
Inshorts
ยท
1y ago
Medial
About 40 online gaming firms will get show-cause notices for alleged tax evasion after the Supreme Court stayed a Karnataka High Court order quashing a โน21,000-crore GST evasion notice to Gameskraft, Moneycontrol reported. Since activities of Gameskraft and other gaming firms are identical, authorities had held back notices. Two โน3,000-crore tax evasion notices have already been sent to two firms.
View Source
Real-money gaming companies look for an ace to beat tax blues
Economic Times
ยท
1y ago
Medial
Gaming companies that offer online games involving real money, such as poker and fantasy sports, are implementing new approaches to discourage frequent withdrawals by users. These measures aim to minimize the impact of increased indirect tax and boost the companies' earnings. Some platforms are limiting the number of daily withdrawals, while others are adjusting the win percentages. The objective is to keep users' money in the system for longer, leading to higher compounded commission for the companies. These changes are being made in response to the new Goods and Services Tax (GST) regime, which has resulted in a 28% tax on player deposits.
View Source
Supreme Court to hear gaming firmsโ challenge to 28% GST rule
Economic Times
ยท
7m ago
Medial
The Supreme Court is set to hear petitions from online gaming firms and casinos challenging the 28% GST imposition on the full value of bets rather than gross gaming revenue. These firms face significant retrospective tax demands since 2023, fearing coercive actions by tax authorities. The Court had earlier stayed a Karnataka High Court judgment demanding Rs 21,000 crore GST from GamesKraft. The petitions argue against the government's view equating all online betting to gambling for tax purposes.
View Source
Offshore online gaming firms must register business in India or appoint proxy to pay tax
VCCircle
ยท
2y ago
Medial
The Indian government mandates offshore online gaming firms to register locally or appoint a representative for tax payment on funds collected from customers. A 28% tax on total funds collected, not individual bets, is levied. Companies failing to comply may face blocks. Over 100 gaming firms and investors including Tiger Global protest the move. The government cites concerns about gaming's societal impact and youth addiction.
View Source
Layoffs, Closures: 28% GST Hits Online Gaming Industry Hard As Authorities Begin Tax Recovery
OutlookIndia
ยท
1y ago
Medial
The implementation of a 28% tax on real money gaming (RMG) by the Goods and Services Tax (GST) Council has led to chaos in the online gaming industry in India. Several start-ups, including Dream11 and Games 24x7, have received tax notices amounting to around Rs 55,000 crore. Companies such as Super Group Limited and Nazara Technologies have already stopped operating in the Indian market, while others have resorted to layoffs. The new tax rate will also impact players' winnings and the competitiveness of gaming companies. The future of the industry remains uncertain as companies navigate the challenges posed by the tax changes.
View Source
Tiger Global, ChrysCap, Peak XV ask govt to reconsider GST on online gaming
VCCircle
ยท
2y ago
Medial
Investment firms Tiger Global, ChrysCap, Peak XV, and ASK have requested the Indian government to reconsider the Goods and Services Tax (GST) on online gaming. They argue that the 28% GST rate on skill-based gaming platforms is excessive and should be reduced. These companies believe that a lower tax rate would encourage growth and investment in the online gaming industry.
View Source
Online gaming companies get summons for cashback to players since October
Economic Times
ยท
1y ago
Medial
The Directorate General of GST Intelligence (DGGI) has issued fresh summons to online gaming companies, including Delta Corp, to provide information on the cashback given to players. The DGGI found that taxed money was being reimbursed to players as cashback in separate promo accounts by gaming companies after the implementation of the 28% GST on the full betting amount. The investigation focuses on cashback provided between October 2023 and June 15, 2024. Gaming companies are already facing tax demands of around โน1.14 lakh crore with pending appeals in courts.
View Source
Changes in tax on lumpsum and premature withdrawals under UPS and NPS in the latest version of Income Tax Bill - The Economic Times
Economic Times
ยท
18d ago
Medial
Finance Minister Nirmala Sitharaman introduced the Taxation Law (Amendment) Bill, 2025, to align tax treatment between the Unified Pension Scheme (UPS) and National Pension System (NPS). The bill proposes tax exemptions for UPS payments up to 60% of the corpus on retirement. However, UPS funds withdrawn before retirement will be taxable. Transferring funds to a pool corpus for annuity purposes at retirement will not be treated as income, ensuring parity in tax treatment between the schemes.
View Source
Gaming bodies write to Amit Shah; urge to block blanket ban, warn of Rs 20,000 crore tax loss - The Economic Times
Economic Times
ยท
10d ago
Medial
Indiaโs gaming bodies, including AIGF and EGF, urged Home Minister Amit Shah to reconsider the 2025 Online Gaming Bill, which proposes banning real-money skill games. They warn this could cripple a Rs 2 lakh crore industry, cause a Rs 20,000 crore tax loss, deter FDI, and lead to job losses. They advocate for smart regulation instead of prohibition to support the industry's growth and consumer protection.
View Source
Trackers
Active Indian VCโs
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything thatโs happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in