In April this year, the Ministry of Electronics and Information Technology (MeitY) notified the latest rules for online gaming, putting in place a regulatory framework for an industry that has often complained of unfair treatment due to a lack of clarity over what can be interpreted as legal. Coming amid increasing instances of edgy state governments rushing to either ban online gaming or penalise companies, this clarity can also be the much-needed shot in the arm for the industry and coax hitherto wary investors to shed some of their inhibitions.
Last month, the Karnataka High Court quashed a show cause notice issued to online gaming company Gameskraft Technologies by the Directorate General of GST Intelligence (DGGI) after the tax body found users placing bets on the company's gaming platforms like Rummy Culture, Rummy Platform and Rummy Partner. The DGGI estimated the total value of bets on these "games of chance" between 2017 and 2022 at Rs 77,000 crore, and levied a 28% tax on the company. The penalty charges ballooned to a whopping Rs 21,000 crore. The startup contested this levy, claiming that it went against the legally accepted distinction between "games of skill" and "games of chance". Games of chance attract 18% GST.
Diving into Definitions
In the past, the country's courts held that a game of skill could be differentiated from a game of chance based on the predominance of skill or chance in the activity involved.
この記事は Outlook Business の June 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Outlook Business の June 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
The New Imperialism
The EU has approved a new environmental regulation that will impact global value chains. Small businesses will have to bear the brunt
VISION FOR THE INDIA OF 2047
In India@100, Krishnamurthy Subramanian argues that India can be a 55trn economy by 2047 if it doubles down on the economic policies implemented in the last decade to grow at 8% annually. Although middle-income trap has plagued many developing countries in the past, he is convinced that India is well-equipped to avoid obstacles in its growth odyssey
BUSINESS MINT: CELEBRATING EXCELLENCE, ONE AWARD AT A TIME
Ensuring that Firms and Entrepreneurs Receive the Recognition they Deserve since 2018
DR. PAVANI KADIYALA: DRIVING INNOVATION AND TECHNOLOGICAL ADVANCEMENT IN EMERGING INDUSTRIES
Celebrating Dr. Pavani Kadiyala's Accolades and Contributions to Emerging Technologies
INSPIRING EXCELLENCE: THE JOURNEY OF NALANDA EDUCATIONAL INSTITUTIONS:
Honoring the Vision of Sri Manthena Suryanarayana Raju Through Innovation and Holistic Development
THE RISE OF VARUN REALTORS
Leading the Charge: Varun Kaliga Named Emerging Real Estate Influencer of the Year for Innovative Impact
R.C. RATUL: BRIDGING THE WORLDS OF ENTERTAINMENT AND REAL ESTATE
The Visionary Behind the Convergence of Entertainment and Real Estate
CYBERABAD BUILDERS ASSOCIATION: LEADING THE CHARGE IN SHAPING
Recognized as the Emerging Builders Association of the Year 2024,’ CBA is setting new benchmarks in real estate and construction excellence in the heart of Hyderabad.
FROM PAPERBOY TO POWERHOUSE: THE INSPIRATIONAL JOURNEY OF VENU KALYAN
Celebrated with the Most Admired Real Estate Sales Coach of the Year 2024’ Award for Transformative Impact and Innovative Coaching
OUTLINE MEDIA: SHAPING TOMORROW'S BRANDING AND ADVERTISING TODAY
Redefining Branding and Advertising