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LKS releases GoM report analysis highlighting need of fair taxation framework for online gaming
Popular Indian law firm Lakshmikumaran & Sridharan (LKS) Attorneys has released a report of analysis of the recommendations by the Group of Ministers (GoM) on the GST rates in the country. The GST council meeting is set to take place soon and is expected to finalize the tax rate on all online games. The report submitted by GoM states that no
distinction shall be made for levying GST rate on casinos, racecourses, online gaming, and lottery, and that it should be taxed at a 28% rate. Further, in case of online games, the tax shall be levied on the full value of consideration. Analysis by LKS believes that a number of
conclusion drawn by the GoM do not align with its objective. Activities like lottery, betting, gambling are fundamentally different from online games. One amounts to games of chance, while the other amounts to games of skill. A good example being the recent conclusion
by Karnataka High Court who ruled that the games provided on Gameskraft platform are games of skill and so not amount to gambling, hence quashing the show cause notice
demanding GST to be charged at 28%. Furthermore, the firm noted that international
practices regarding taxation on online gaming is also moving towards taxation on GGR (Gross Gaming Revenue) model with developed nations capping tax rate between 15%-20%. Therefore, the GoM report concluding taxation on entry amount is contradictory to international practice. The report also reflects scepticism as the amendments to online gaming rules were made after the GoM report was prepared. Prior to the new amendments, there was not much clarity regarding games of skill or chance.
Discussion and final stance on tax rate for online games considering the clarity by online gaming rules will be important as it will help in curbing any debate regarding what is game of skill or chance and make a sound decision. Ensure that the GST position is aligned,
says report. The report said, “It is important that the GST
Council considers the recent legislative developments to ensure that the GST position is aligned with the established jurisprudence and central legislations on the said matter.” Speaking on the release of the report, executive
partner at LKS, L. Badri Narayanan said, “As per reports, the size of India’s gaming market is estimated at around US$ 2.6 billion in FY22. This is expected to reach US$ 8.6 billion by FY27.” “Realisation of this potential is subject to a fair
and certain taxation framework. The GST Council should consider the factual legal position, expectations of the industry and implement global best practices to provide a conducive taxation regime and not levy heavy 28% GST on the total value of consideration,” he further added.
Odisha Train Accident: Indian gaming community donates over Rs 30 lakh
Several popular professional gamers and streamers contributed over Rs 30 lakh in relief funds for the victims of the recent Odisha train accident that occurred on 2 June 2023. Popular esports organization S8UL contributed
over Rs 15 lakh alone through a recent charity stream where several creators from S8UL took part, including Lokesh Jain (8Bit_Goldy) and professional cricketer Yuzvendra Chahal. Professional players Tanmay Singh (ScoutOP) and Naman Mathur (Mortal) also took part, with each donating Rs one lakh for the cause. ScoutOP, who is also from Odisha, said, “Being
from Odisha, I strongly felt it was my responsibility to do whatever I could within my capacity and help the people affected by this tragic disaster. The overwhelming success of the charity stream brings me an incredible sense of pride and joy. Raising INR
20 JULY 2023 One of the biggest Indian YouTubers and streamer
Ajey Nagar (CarryMinati), also organized a charity stream and raised over Rs 13 lakh, to which he contributed Rs 1.5 lakh. Nagar expressed his gratitude on Twitter, thanking everyone who donated. “It’s just heartbreaking to see these upsetting
Ajey Nagar (CarryMinati)
15 Lakhs will greatly aid those in need.” Expressing his gratitude, ScoutOP said, “I’m immensely thankful to the members of S8UL, Yuzvendra Chahal, and the entire gaming community for their support. I am also grateful to my audience whose participation and generosity have played a significant role in helping us make a positive impact in the lives of those affected by the tragedy.”
visuals. My thoughts and prayers are with each and every person affected by this shocking incident. I pray for a speedy recovery of the injured and extend my heartfelt condolences to the bereaved families,” he said. Team Rebel from GodLike esports, who secured
first position in the recent Battlegrounds Mobile India (BGMI) rising hosted by Krafton, and Team Jonathan, who finished in second position, also contributed all the winnings from the tournament towards Odisha relief, making a total contribution from GodLike esports of Rs five lakh.
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