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Sony Cancels Two More PlayStation Projects in Broader Retreat
PlayStation has canceled previously unannounced games at two of its top subsidiaries. In a statement, the spokesperson said the two games were canceled “following a recent review” and that PlayStation will continue making both online and single-player games.
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Naughty Dog's Next Game Will Reportedly Focus on 'Player Freedom'
Naughty Dog is confirmed to be working on several new projects. While the studio has not revealed any details about its next game, an industry insider has teased that the unannounced project would favour player freedom.
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Indian Video Games Industry Seeks Distinction From Real Money Games, Sends Policy Suggestions to Centre
A consortium of Indian video games and esports companies have written to the newly formed government, requesting a comprehensive industry-focussed policy, regulatory streamlining and a clear distinction from real money games that are often conflated with video games under the “Online Games” umbrella term.
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E3 Is Officially Dead After a Series of Failed Attempts at Reinvention
E3 is officially dead, the ESA has confirmed. Ever-shifting gamer interests, major publishers backing out, and fierce competition from online presentations led to several cancellations before the show eventually got shut down. Major video game industry figures such as Hideo Kojima and Cory Barlog took the opportunity to pay respects to the annual c...
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Betting-Based Online Gaming Firms Said to Face Rs. 1 Lakh Crore GST Notices
India's online gaming industry has received show-cause notices amounting to Rs. 1 lakh crore say sources. The notices come even as the industry has raised concerns on the applicable GST Rates.
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BGMI Maker Krafton India Urge for Support Measures to Promote Online Gaming
Krafton India, makers of the popular online game BGMI, on Thursday pitched for government support measures to promote the online gaming industry in the country. Krafton India CEO Sean Hyunil Sohn highlighted subsidies given to gaming companies for labour costs by countries like the UAE and Canada and stated that innovative ways can be found to pro...
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Offshore Online Gaming Companies in India Mandated to Register Their Business
The Indian government has mandated offshore online gaming companies operating in the country to register the business locally or appoint a representative to pay tax on funds collected from customers. The move to tax online gaming companies has shocked the nascent $1.5 billion (nearly Rs. 12,430 crore) industry, which is backed by global investors.
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Parliament Passes Bill to Levy 28 Percent GST on Online Games; Offshore Gaming Firms to Need Registration
Parliament on Friday approved amendments to the Central and Integrated GST laws to levy 28 percent tax on the full face value of bets in online gaming, casinos and horse race clubs. The CGST amendment bill defines 'online gaming' as a game on the internet or an electronic network.
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28% GST On Online Gaming Stays. To Be Reviewed Next Year
In some relief to online gaming industry, the GST Council on Wednesday decided that 28 per cent GST will be levied at face value of entry level bets placed in gaming platforms and casinos.
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Indian Games Industry Calls for Distinction From Real Money Games in Letter to PMO Over 'Online Games' Tax
Over 45 video game companies in India, representing the games industry in the country, have written to the Prime Minister’s Office, Ministry of Electronics and Information Technology, and the Ministry of Information and Broadcasting to address the ambiguity surrounding 'online gaming' and drawing a clear distinction between video games and real m...
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India To Lose Billions: Letter To PM Modi Over 28% GST Rule For Gaming
GST Council's decision to levy a 28% tax on real money online gaming industry will lead to a write-off of USD 2.5 billion investment made in the segment, a group of 30 Indian and foreign Investors said in a joint letter to PM Modi.
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Minister's Big Remark Amid Row Over 28% GST Decision On Online Gaming
Amid the online gaming industry raising concerns over the levy of 28 per cent GST, Union minister Rajeev Chandrasekhar on Monday said the government may request the GST Council to consider the facts of new regulatory framework for the industry.
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Indian Online Gaming Firms Planning to Relocate Could Violate Laws: Official
Indian online gaming firms planning to relocate overseas to avoid a new 28 percent tax on the sector run the risk of violating the country's foreign exchange laws, Vivek Johri, head of the indirect taxes' department, said on Thursday. New Delhi does not plan to implement the tax retrospectively, he said, in response to speculation it could do so.
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Ashneer Grover Slams Higher GST On Online Gaming: "Time To Enter Politics"
The $1.5 billion online gaming industry has surged in popularity in recent years and attracted foreign investment.
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28% GST Decision "Will Wipe Out Entire Industry": Online Gaming Firms
Online gaming companies on Tuesday said that levying of 28 per cent GST will limit their ability to invest in new games, impact cash flows as well as business expansion.
-
Sony Cancels Two More PlayStation Projects in Broader Retreat
PlayStation has canceled previously unannounced games at two of its top subsidiaries. In a statement, the spokesperson said the two games were canceled “following a recent review” and that PlayStation will continue making both online and single-player games.
-
Naughty Dog's Next Game Will Reportedly Focus on 'Player Freedom'
Naughty Dog is confirmed to be working on several new projects. While the studio has not revealed any details about its next game, an industry insider has teased that the unannounced project would favour player freedom.
-
Indian Video Games Industry Seeks Distinction From Real Money Games, Sends Policy Suggestions to Centre
A consortium of Indian video games and esports companies have written to the newly formed government, requesting a comprehensive industry-focussed policy, regulatory streamlining and a clear distinction from real money games that are often conflated with video games under the “Online Games” umbrella term.
-
E3 Is Officially Dead After a Series of Failed Attempts at Reinvention
E3 is officially dead, the ESA has confirmed. Ever-shifting gamer interests, major publishers backing out, and fierce competition from online presentations led to several cancellations before the show eventually got shut down. Major video game industry figures such as Hideo Kojima and Cory Barlog took the opportunity to pay respects to the annual c...
-
Betting-Based Online Gaming Firms Said to Face Rs. 1 Lakh Crore GST Notices
India's online gaming industry has received show-cause notices amounting to Rs. 1 lakh crore say sources. The notices come even as the industry has raised concerns on the applicable GST Rates.
-
BGMI Maker Krafton India Urge for Support Measures to Promote Online Gaming
Krafton India, makers of the popular online game BGMI, on Thursday pitched for government support measures to promote the online gaming industry in the country. Krafton India CEO Sean Hyunil Sohn highlighted subsidies given to gaming companies for labour costs by countries like the UAE and Canada and stated that innovative ways can be found to pro...
-
Offshore Online Gaming Companies in India Mandated to Register Their Business
The Indian government has mandated offshore online gaming companies operating in the country to register the business locally or appoint a representative to pay tax on funds collected from customers. The move to tax online gaming companies has shocked the nascent $1.5 billion (nearly Rs. 12,430 crore) industry, which is backed by global investors.
-
Parliament Passes Bill to Levy 28 Percent GST on Online Games; Offshore Gaming Firms to Need Registration
Parliament on Friday approved amendments to the Central and Integrated GST laws to levy 28 percent tax on the full face value of bets in online gaming, casinos and horse race clubs. The CGST amendment bill defines 'online gaming' as a game on the internet or an electronic network.
-
28% GST On Online Gaming Stays. To Be Reviewed Next Year
In some relief to online gaming industry, the GST Council on Wednesday decided that 28 per cent GST will be levied at face value of entry level bets placed in gaming platforms and casinos.
-
Indian Games Industry Calls for Distinction From Real Money Games in Letter to PMO Over 'Online Games' Tax
Over 45 video game companies in India, representing the games industry in the country, have written to the Prime Minister’s Office, Ministry of Electronics and Information Technology, and the Ministry of Information and Broadcasting to address the ambiguity surrounding 'online gaming' and drawing a clear distinction between video games and real m...
-
India To Lose Billions: Letter To PM Modi Over 28% GST Rule For Gaming
GST Council's decision to levy a 28% tax on real money online gaming industry will lead to a write-off of USD 2.5 billion investment made in the segment, a group of 30 Indian and foreign Investors said in a joint letter to PM Modi.
-
Minister's Big Remark Amid Row Over 28% GST Decision On Online Gaming
Amid the online gaming industry raising concerns over the levy of 28 per cent GST, Union minister Rajeev Chandrasekhar on Monday said the government may request the GST Council to consider the facts of new regulatory framework for the industry.
-
Indian Online Gaming Firms Planning to Relocate Could Violate Laws: Official
Indian online gaming firms planning to relocate overseas to avoid a new 28 percent tax on the sector run the risk of violating the country's foreign exchange laws, Vivek Johri, head of the indirect taxes' department, said on Thursday. New Delhi does not plan to implement the tax retrospectively, he said, in response to speculation it could do so.
-
Ashneer Grover Slams Higher GST On Online Gaming: "Time To Enter Politics"
The $1.5 billion online gaming industry has surged in popularity in recent years and attracted foreign investment.
-
28% GST Decision "Will Wipe Out Entire Industry": Online Gaming Firms
Online gaming companies on Tuesday said that levying of 28 per cent GST will limit their ability to invest in new games, impact cash flows as well as business expansion.
