Connect with us
Tuesday,13-May-2025
Breaking News

Sports

GST proposal by unit of Finance Ministry could potentially wipe out all gaming companies in India

Published

on

 As a critical meeting of the Group of Ministers (GoM), formed to discuss GST on online gaming takes place on May 18, a controversial proposal by a unit of the Finance Ministry, could spell the death knell for most gaming companies in India.

The Tax Research Unit (TRU) of the Department of Revenue of the Finance Ministry has recommended charging 28-30 per cent of the gross Contest Entry amount. Currently 18 per cent GST is charged only on the platform fee by gaming companies.

An industry source told IANS, “Currently, the platform margins range between 5-10 per cent for all formats, except fantasy sports. Esports like chess, carrom, car racing, first-person shooter, etc. charge around Rs 8 for 100 rupees deposited by the user. This becomes the revenue for the gaming companies and the remaining 92 rupees is paid back to the winner of the contest. Similarly, for skill-based cards games, platforms charge Rs 5-10 for every 100 rupees given by the user.”

The source added, “Only in fantasy sports, the platforms charge around Rs 15 for every 100 rupees provided by the user. Therefore, if the TRU’s recommendations are accepted, the GST liability on the gaming companies will be 2-3X of the revenue of gaming platforms, except for fantasy platforms.”

Fantasy gaming in India, which usually peaks during the IPL, is dominated by few operators, with Dream11, MPL and My11Circle controlling over 95 per cent of the market. There are over 950 platforms in India that offer esports, casual games and card games.

The gaming industry, directly and indirectly, employs lakhs of people in the sector. All these smaller companies, along with their investment and employment, could potentially be wiped out.

Business

Centre approves reopening of 32 airports as tensions ease on India-Pakistan border

Published

on

New Delhi, May 12: The Centre on Monday issued the NOTAM (Notice to Airmen) to reopen the 32 airports that had been shut down since May 9 due to the cross-border drone and missile attacks following heightened tensions between India and Pakistan in the wake of the Pahalgam massacre of 26 tourists by Islamabad-backed terrorists.

The airports that will gradually reopen include Chandigarh, Srinagar, Amritsar, Ludhiana, Bhuntar, Kishangarh, Patiala, Shimla, Kangra-Gaggal, Bathinda, Jaisalmer, Jodhpur, Bikaner, Halwara, Pathankot, Jammu, Leh, Mundra, Jamnagar, Hirasar, Porbandar, Keshod, Kandla and Bhuj.

The airports will be opened gradually as, although the ceasefire announced following the Pakistan DGMO’s (Director General of Military Operations) request is largely holding, the government does not want to take any chances.

“The night remained largely peaceful across Jammu and Kashmir and other areas along the International Border. No incidents have been reported, marking the first calm night in recent days,” according to a statement issued by the Indian Army on Monday.

The opening of these airports which are close to the Pakistan border reflects a de-escalation in the cross-border hostilities which saw India successfully launching ‘Operation Sindoor’ to avenge the Pahalgam killings.

The reopening of these airports will help to restore normalcy in flight operations which have undergone widespread disruption due to the conflict.

Meanwhile, Delhi International Airport Limited (DIAL) said on Monday that operations at the airport are “currently smooth,” however, due to changing airspace conditions and increased security measures, some flight schedules and security checkpoint processing times may be affected.

The airport management has advised passengers to follow updates and instructions from their airlines, allow extra time for security checks due to heightened measures and adhere to hand baggage and check-in luggage regulations.

Passengers have been advised to check the latest flight status through their airline or the official Delhi Airport website.

Although an agreement for a ceasefire was reached on Saturday, the government is not taking any chances on the security front.

Prime Minister Narendra Modi held a meeting on Sunday with the three service chiefs and the Chief of Defence Staff to take stock of the latest situation.

Continue Reading

Sports

PCB postpones men’s domestic tournaments with immediate effect amid India-Pak tensions

Published

on

Lahore, May 10: The Pakistan Cricket Board (PCB) on Saturday announced the immediate postponement of all men’s domestic tournaments in the country owing to escalating cross-border tensions with India.

“The Pakistan Cricket Board confirms that the ongoing President’s Trophy Grade-II, Regional Intra-District Challenge Cup, Inter-District U19 One-Day tournament have been postponed with immediate effect due to prevailing security condition in the country.”

“The tournaments will resume from the same stage later and a revised schedule will be shared closer to the resumption,” said the PCB in its official statement on Saturday.

Previously on Friday, after the BCCI paused IPL 2025 for a week due to growing tensions between the two nations on the border areas, the PCB had announced it has postponed the ongoing edition of the Pakistan Super League (PSL) for an indefinite period, citing the advice given by Pakistan Prime Minister Shahbaz Sharif.

The tournament’s postponement news came hours after PCB claimed it was going to host the remaining eight matches of the tournament in the UAE, though the organisation didn’t specify the dates or venues of those rescheduled matches.

PSL’s future had come under great uncertainty after a drone had crashed at a food street near the Rawalpindi International Cricket Stadium, which resulted in Thursday’s match between Peshawar Zalmi and Karachi Kings being postponed indefinitely.

Two weeks after 26 people were gunned down by terrorists in Pahalgam – a popular tourist destination in Jammu & Kashmir, India launched ‘Operation Sindoor’ to target terrorist infrastructure in Pakistan and Pakistan-occupied Jammu and Kashmir from where terrorist attacks against India have been planned and directed.

Pakistan continued its aerial attacks, comprising drones and missiles, on Indian border cities as well as across other military stations in Jammu & Kashmir, Punjab, Rajasthan and Gujarat on Friday. But all of them were successfully foiled by India’s defence systems.

Continue Reading

Sports

IPL 2025 suspended indefinitely, BCCI cites national interest

Published

on

New Delhi, May 9: Amid the escalating military conflict between India and Pakistan, the BCCI has decided to suspend the ongoing Indian Premier League (IPL) 2025 season indefinitely in an emergency meeting on Friday, sources told Media.

After Thursday’s IPL 2025 match between Punjab Kings and Delhi Capitals was called off after 10.1 overs of play at the HPCA Stadium in Dharamshala following the air and drone strikes from Pakistan which resulted in blackouts in Jammu, Pathankot and Udhampur, all of which are in close proximity to Dharamshala, the future of the tournament looked uncertain and BCCI convened emergency meeting to decide the way forward.

“IPL to be suspended, BCCI will issue detailed information anytime soon, the BCCI sources told Media on Friday. “Yes, the meeting just got over. After discussing with all the concerned authorities, this decision was made. Further details will be shared by the BCCI, ” it added.

“BCCI wants to stand with the nation at this time and thus suspends IPL 2025 with immediate effect. It’s indefinite at the moment (on a window to resume IPL 2025 in future). It will only happen if there will be time later in the year. But for now nothing,” said IPL sources to Media.

Following the abandonment of the Dharamshala match, several Australian players involved in the league reportedly expressed anxiety over their safety.

A special train has been arranged to evacuate both Punjab Kings and Delhi Capitals players and support staff members, match officials, commentators, broadcast crew members and other key personnel associated with IPL 2025 to get them to a safe place.

After India launched precision strikes targeting nine high-value terror camps across Pakistan and Pakistan-occupied Kashmir (Pok), in response to the horrific terrorist attack in Pahalgam that claimed 26 lives, Pakistan attempted to engage in number of military targets in Northern and Western India on May 7-8.

India on Thursday morning targeted the Air Defence Radars and systems at several locations in Pakistan, during which the one at Lahore has been neutralised.

Later, Pakistan launched aerial attacks on Jammu as well as several military stations near the western border, but those were successfully foiled by India’s air defence systems.

Continue Reading

Trending