Connect with us
Thursday,19-December-2024
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.

International

‘Our dream is getting fulfilled’: Coach Sumit Bhatia elated to see Kho Kho going global

Published

on

New Delhi, Dec 16: Coach Sumit Bhatia is all pumped up for the first edition of the Kho Kho World Cup scheduled to take place from January 13-19, 2025. Bhatia, who holds a distinct record of being the only head coach to have won the Asian Championship twice, believes that this historical step is an indication of the realisation of the dream to take the sport to the international level and help it gain global recognition.

Having been honoured with the best coach award by the Delhi government, Bhatia has been a part of various Indian teams’ success, including the 2016 and 2023 Asian Kho Kho Championship victories, and has trained players like Nasreen Shaikh and Sarika Sudhakar Kale. Both of them have been Arjuna Awardees.

Nasreen, who is also a part of the World Cup camp, is the only player who has played in two Asian Championships and won the gold. The coach-student duo is now gearing up for the global event.

Sharing how the journey of Kho Kho World Cup’s inception, the coach said, “We organised an international camp here before COVID happened, in 2020. Coaches and players from 16 countries came here and we gave them training. Now they will be coming here for the World Cup but this campaign started in that camp”.

He further said, “Around 30-35 countries were willing to play the tournament but we picked the best 20 teams for both men and women. Some countries have single teams while some have double teams but a total of 24 countries will be participating in the tournament. It was our dream to take Kho Kho to the international level and now we can see that our dream is getting fulfilled.”

He also lauded the launch of the Ultimate Kho Kho League and shared how the franchise-based model has helped the players and coaches gain recognition, while also bringing forward grassroot talent.

“When the Ultimate Kho Kho league started, I also joined Telegu Yodhas as their head coach and we also played the final. Players have gotten exposure through the league and it’s not just financial. Earlier we used to hesitate while admitting being a Kho Kho coach but today our players introduce us as their coach,” said Bhatia.

He added, “The league got so much coverage that wherever we go, the players are approached for autographs. So the platform of the league started a new world for both coaches and players and now not just India but the entire world knows us. Earlier we used to tell people about our game but now they know what is Kho Kho and Ultimate Kho Kho league and are also waiting for the third season.”

Bhatia also discussed the impact of sports science on Kho Kho and lauded the newly introduced technology and said, “We have benefitted a lot from it. Sometimes we don’t understand why a player is not performing well. But with the introduction of sports science, we now know about the details of the problem.

“For example, a player might be facing issues with his left leg while sitting and so, it gives us an opportunity to work on that weakness… Sports science has helped us in identifying the accuracy and weakness of a player. So it’s very beneficial for us.”

Continue Reading

International

Gukesh etches India’s name in golden letters in chess history: AICF

Published

on

New Delhi,Dec 13: The All India Chess Federation (AICF) president Nitin Narang lauded D. Gukesh on becoming the youngest World Chess Champion and said it is not just a personal milestone but the feat has also etched India’s name in golden letters in the history of chess.

Gukesh scripted history on Thursday after beating Ding Liren of China in the 14-game World Chess Championship final in Singapore. The 18-year-old from Chennai capitalised on a blunder by Ding in the winner-takes-all 14th game to dethrone the reigning champion, winning the match 7.5 to 6.5 to become only the second Indian, after five-time champion Viswanathan Anand, to win the World Chess Championship.

Congratulating Gukesh over his historic performance, AICF president Nitin Narang said, “Gukesh’s victory is not just a milestone in his career but also etches India’s name in golden letters in the history of chess.

Throughout the tournament, he displayed remarkable focus and patience, which is truly inspiring. Gukesh has emerged as a role model for today’s youth.”

Narang further said that Gukesh deserves to be called the Crown Prince of Chess. “Gukesh’s victory has established beyond a shadow of doubt that India is the king of chess. I congratulate Gukesh, his coaches, his family, and everyone else who stood by his side during his journey from a chess prodigy to a world champion,” he said.

At 18, Gukesh has shattered barriers and surpassed Garry Kasparov’s record to become the youngest-ever World Chess Champion.

AICF Secretary Dev A Patel said Gukesh has emerged as a symbol of hope and aspiration for millions of youngsters who are drawn to the game of chess.

“Gukesh’s victory will help the AICF in taking chess to tens of thousands of schools across the country. The AICF already has a ‘chess in school’ program in motion where hundreds of coaches have been roped in to popularise the game among the young generation,” he added.

AICF treasurer Dharmendra Kumar pointed out that AICF is continuously bolstering and building chess and its ecosystem in India, which is evident from the success Indian players have secured in international competitions.

Gukesh will wear the world crown 11 years after Vishwanathan Anand was dethroned in the 2013 World Chess Championship. Incidentally, Gukesh’s triumph was bolstered by the mentorship of GM Anand and his WestBridge Anand Chess Academy.

Continue Reading

Sports

Wickets To Wheels: Rashid Khan Practices Pit Stop With Haas F1 Team Ahead Of Qatar GP; 

Published

on

Gujarat Titans and Afghanistan skipper Rashid Khan was recently spotted going through a mock pit stop with the Haas F1 team before the Formula 1 Qatar GP. The cricketer donned the same attire as the team members and assisted the crew by lifting the tyres and replacing them with relative ease.

One of the crew members also complimented Rashid’s work with a fist bump. The Haas F1 team put a fascinating edit of the same on their Instagram page. The Haas F1 team captioned the post, “From Pitch Perfect to Pit Perfect. Giving @rashid.khan19 a taste of Pit Stop Practice with the team,” . The effort from Rashid drew admiration from fans.

Rashid set to lead Afghanistan in forthcoming series against Zimbabwe

Coming to cricket, Rashid, will be leading the team against Zimbabwe as Afghanistan are all set to commence their all-format tour with the white-ball series on December 11. The three-match T20I series will be followed by as many games ODIs and two Tests. 

The first Test will be played on December 26 at Queens Sports Club in Bulawayo. It is all set to be an iconic occasion for both Afghanistan and Zimbabwe. Notably, the red-ball game is slated to be the first Boxing Day Test hosted by Zimbabwe after 28 long years, which was against England in 1996.

The Boxing Day encounter will be followed by the New Year’s Test from January 2-6 at the same venue. Recently Rashid was retained by Gujarat Titans for a record ₹18 crore ahead of the IPL 2025 mega auction

Continue Reading

Trending