Passez à l'illimité avec Magzter GOLD
Obtenez un accès illimité à plus de 9 000 magazines, journaux et articles Premium pour seulement
Essayer OR - Gratuit
Stiff tax on gross revenue spooks online gaming cos
Mint Mumbai
|July 12, 2023
Gaming services not 'actionable claims', says FM; industry had lobbied to be taxed on net profit
The Goods and Services Tax (GST) Council on Tuesday decided to tax online gaming companies at 28% of their gross revenue, or full face-value of transactions and entry fees paid by gamers, disappointing an industry that has lobbied for months to be taxed on its profit rather than revenue.
Online gaming firms have so far paid 18% GST on their net profit.
Alongside the new tax regime, Union finance minister Nirmala Sitharaman said at a press conference after the GST Council’s 50th meet that online gaming services “are not actionable claims".
The taxation decision could deal a blow to online gaming companies. Industry regulators and stakeholders expressed shock, saying the tax risks making online gaming businesses unviable in India.
Cette histoire est tirée de l'édition July 12, 2023 de Mint Mumbai.
Abonnez-vous à Magzter GOLD pour accéder à des milliers d'histoires premium sélectionnées et à plus de 9 000 magazines et journaux.
Déjà abonné ? Se connecter
PLUS D'HISTOIRES DE Mint Mumbai
Mint Mumbai
Investors expect AI use to soar. That’s not happening
On November 20th American statisticians released the results of a survey. Buried in the data is a trend with implications for trillions of dollars of spending.
4 mins
November 28, 2025
Mint Mumbai
360 One, Steadview, others to invest in Wakefit ahead of IPO
A clutch of firms, including 360 One, Steadview Capital, WhiteOak Capital and Info Edge, is expected to invest in home-furnishings brand Wakefit Innovations Ltd just ahead of its initial public offering (IPO) next month, three people familiar with the matter said.
3 mins
November 28, 2025
Mint Mumbai
I-T dept to nudge taxpayers to declare foreign wealth
The department was able to collect 30,000 crore disclosed in the previous Nudge drive
2 mins
November 28, 2025
Mint Mumbai
Catamaran to boost manufacturing bets
Catamaran is focused on a few areas in manufacturing, such as aerospace
2 mins
November 28, 2025
Mint Mumbai
India, UAE review trade agreement to ease market access
Officials of India and the United Arab Emirates (UAE) met on Thursday to review how the Comprehensive Economic Partnership Agreement (CEPA) is working, and remove frictions that may be impeding trade between the two nations.
1 mins
November 28, 2025
Mint Mumbai
Beyond the stock slump-Kaynes' $1 bn aim is just the start
Shares of Kaynes Technology India Ltd have fallen about 25% from their peak of 7,705 in October, amid a management reshuffle and the expiry of the lock-in period for pre-IPO shareholders.
1 mins
November 28, 2025
Mint Mumbai
How Omnicom’s IPG buy will change Indian advertising
Two of the advertising world’s Big Four holding companies—Interpublic Group and Omnicom—officially merged this week.
2 mins
November 28, 2025
Mint Mumbai
Why TCS is walking a tightrope
Tata Consultancy Services Ltd recently outlined an ambitious multi-year $6-7 billion investment plan to build artificial intelligence (AI)-focused data centres and is already making progress in that area.
2 mins
November 28, 2025
Mint Mumbai
It's a multi-horse Street race now as Smids muscle in
For years, India’s stock market ran on the shoulders of a few giants. Not anymore.
3 mins
November 28, 2025
Mint Mumbai
Telecom firms flag hurdles in data privacy compliance
Operators need to comply with the data protection norms within 12-18 months
1 mins
November 28, 2025
Translate
Change font size