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IAMAI Joins Online Gaming Industry Bodies in Warnings against Proposed GST Hike on Online Gaming

The Internet and Mobile Association of India (IAMAI) has issued an open letter urging the Central Government and the GST Council to preserve the status quo regarding Goods and Services Tax levy on online gaming. Currently, online game companies are charged 18 percent GST over their Gross Gaming Revenue (GGR). The Contest Entry Fees (CEF) are tax free. The Group of Ministers (GoM) which was formed in May last year by the Council recommended a uniform 28 percent levy for all gaming varieties. IAM AI calculates that the implementation of such a recommendation would increase effective taxation by 1,100 percent and destroy the Indian online games industry.
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IAMAI Joins Online Gaming Industry Bodies in Warnings against Proposed GST Hike on Online Gaming
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RELATED TOPICS

GoM On GST For Casinos Online Gaming Horse Racing To Meet On July 12

The panel of ministers advising the government on GST for online gaming, casinos, and horse racing will meet again on July 12. The panel will finalise recommendations on the tax rates for these activities. Online gaming industry associations are concerned about the proposed tax on Full Contest Pool rather than on Gross Gaming Revenue (GGR). The Government has delayed the decision by 15 days. The final decision is expected to be in favour of the gaming industries. It is hoped that the panel's recommendations will be more favourable to them. They are worried about a higher GST rate of 28 percent as against 18 percent.
Industry
GoM On GST For Casinos Online Gaming Horse Racing To Meet On July 12

GST Council Defers 10 Hike On Online Gaming

GST Council Defers 10 Hike On Online Gaming. Karnataka Chief Minister BS Bommai announced that the decision has been deferred. The GoM on online gaming has another 15 days to discuss the issue. The GST rate on the online games falls within 2 slabs – 18% and 28%. Online games that involve financial betting attract 28% GST, while other online game are taxed at 18%. Online gaming platforms which earn commission are liable to pay GST at the rate of 18 percent on their commission. RSM India director Siddharth Surana believes a higher GST of 28%, as against 18%, would have an impact on profitability and pricing of the internet gamers.
Industry
GST Council Defers 10 Hike On Online Gaming

Highest tax slab on online gaming may stunt growth

The government's plan to levy highest goods and services tax (GST) slab on online gaming has the industry worried about future growth plans. The GST Council is set to meet on 28 June to decide which slab will be applied. Online gaming firms fear that the government will levy the highest GST slab (28%) on the gross gaming value (GGV) which is the total money deposited by users. The industry expert predicts that fantasy sports firms will have to reduce the prize pools they offer, which will shrink the investments players make on their platforms. They also fear the reduction in the prizes will drive players to offshore betting platforms that offer fantasy sport, online rummy, and poker.
Finance
Highest tax slab on online gaming may stunt growth

Certain offshore online gambling companies involved in tax evasion: All India Gaming Federation

The government has advised print, electronic and digital media to stop advertising online betting platforms. Online gambling platforms are not registered under the Central Goods and Services Tax Act, 2017 and do not pay applicable direct and indirect taxes. Betting and gambling is illegal in most parts of India. Elara Capital believes e-commerce contributes 13% of ad spends for traditional media. Online betting platform component would be higher towards 30%. ecommerce vertical grew 100% year-on-year in CY21. Dream11 and My11 circle were both featured in the top 15 advertiser list as per Madison.
Finance
Certain offshore online gambling companies involved in tax evasion: All India Gaming Federation
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All India Gaming Federation are in conflict with Tamil Nadu over gambling debacle

Tamil Nadu is appealing to the Supreme Court to overturn the recent ruling on online gambling in India. If the ruling is upheld, it could change the entire gambling landscape in the country. The ruling could also open the door for foreign investment. SevenJackpotsresearch team believes regulation is the best way forward. They believe it would pave the way for tax, personal data protection, fair competition, and tech transparency.
Law
All India Gaming Federation are in conflict with Tamil Nadu over gambling debacle
RELATED CATEGORIES

Karnataka online gambling ban struck down on constitutional grounds

Karnataka High Court struck down the Act 2021 banning online gaming with stakes and betting in the state as unconstitutional. The verdict will set a precedent for the scope of gaming regulations in India. Fantasy sports apps and real money gaming platforms can restart their operations in Karnataka.
Law
Karnataka online gambling ban struck down on constitutional grounds
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Online gaming opening new doors for players

Online gaming industry is booming in India. PUBG Mobile has ushered in multiplayer mobile gaming in the country. Ludo King got players aged 45 and above interested in online gaming. Competitive skill-based games commonly known as e-sports are turning gaming into a mainstream event. Indian Olympic Association announced in February that it will officially recognise e sports as a sporting event and Indian gamers can compete at the Asian Games in 2022.
Industry

Everything You Need To Know About Karnataka's Ban On Online Gaming

The online gaming industry has the potential to generate $2 Bn in revenues by 2023. Indian states are undecided on the legalisation of online games. Fantasy gaming platforms such as Dream11, Mobile Premier League (MPL), MyTeam11 and Halaplay are popular in India. Earlier this week, Dream 11 suspended its operations in Karnataka due to a recent ban. MPL, Nazara games’ Hlaplay, Paytm First Games and other online casino-kind games have stopped offering cash games to users in the state.
Strategy Guide
Everything You Need To Know About Karnataka's Ban On Online Gaming

No interim relief for petitioners challenging Karnataka’s online gambling law

There is no interim relief for petitioners challenging Karnataka's new online gambling law. The next hearing on the petitions will take place after Diwali in November 2021. Dream11 co-founders Bhavit Sheth and Harsh Jain are challenging an FIR against them for violating the State's gambling ban by continuing the operations of Dream 11 in Karnata after the notification of the new law, which was notified on October 5. The Indian online gaming sector touched about $1 billion in 2020 and is expected to reach $2 billion by 2023. In September, the Kerala High Court quashed the state government’s ban on online rummy played for stakes.
Law
No interim relief for petitioners challenging Karnataka’s online gambling law

State Govt Opposes Petitions Challenging Ban On Online Gambling In Karnataka, Says 'No Harm In Preventing Public From Squandering Their Hard Earned Money'

The All India Gaming Federation is challenging the Constitutional validity of the Karnataka Police (Amendment) Act 2021. The Act bans all online gambling and betting and provides maximum imprisonment of three years and a penalty upto Rs 1 lakh for violation of its provisions. Senior Advocate Arvind Datar argues that the Supreme Court has laid down clear principles of what comes under entry 34 List II of Act. Dater also argues online games are not within the state jurisdiction. Justice Krishna S Dixit questions the meaning of 'regulated' and 'extreme form of regulation'. i.e. if it is allowed everywhere you cannot say it's banned in Karnata.
Rummy Games
State Govt Opposes Petitions Challenging Ban On Online Gambling In Karnataka, Says 'No Harm In Preventing Public From Squandering Their Hard Earned Money'

Karnataka online gambling ban: Karnataka HC to hear petitions challenging new law

Karnataka High Court will start hearing petitions challenging the new law banning online betting games on Wednesday, October 27. The All India Gaming Federation and individual companies have filed the petitions. Advocate General Prabhuling Navadgi will file a statement of objections by Wednesday. There are 92 online gaming companies registered in Bengaluru alone, employing 4,000 people. Kerala High court had stayed a Kerala government notification to ban online rummy under Kerala Gaming Act, 1960. It relied on an earlier Supreme Court which held online rummy as a game of skill.
Law
Karnataka online gambling ban: Karnataka HC to hear petitions challenging new law

Karnataka: AIGF, Gaming Companies Move High Court Challenging Online Gambling Law

All India Gaming Federation (AIGF) and four real-money gaming companies have moved the Karnataka High Court challenging the state government's online gambling law that came into effect on October 5. The law bans online games that are played with stakes. AIGf CEO Roland Landers said the law would harm the domestic online gaming industry. The Madras High court had recently struck down the amendment made to the Tamil Nadu Gaming Act, 1930 that imposed ban on online game played on stakes and a similar act passed by the Kerala government to such onlinegames was struck by High Courts.
Law
Karnataka: AIGF, Gaming Companies Move High Court Challenging Online Gambling Law

Industry appeals Karnataka high court against online gambling law

All Indian Gaming Federation, Mobile Premier League, Games24x7, Gamekraft and Head Digital Works Private Limited have filed writ petitions in the Karnataka High Court against the State's online gambling law. The Karnata Police (Amendment) Compliance Act, 2021 banned all formats of online gaming that involves an entry fee or registration fee.
Law
Industry appeals Karnataka high court against online gambling law

GST on online Gaming: Are you game?

The online gaming industry in India has seen exponential growth in terms of revenue and usage. The All-India Gaming Federation is following up with the GST Council to provide clarity on the taxability of the revenue derived by the industry. A panel of seven ministers from various state governments has been formed to analyze and evaluate the taxes on online games. The panel has also been asked to review the taxation of horse race clubs and casinos.
Industry
GST on online Gaming: Are you game?