India tax panel may not reach consensus on taxing online gaming - source

    A panel of Indian state finance ministers has yet to submit its report on taxation of the booming online gaming sector…
    By: REUTERS
    | Updated on: Dec 06 2022, 01:43 IST
    Not a gaming fan? Check 5 best non-gaming phones under 50000
    Oppo Reno 8 Pro 5G
    1/5 Oppo Reno 8 Pro: Priced at Rs. 45,999, the Oppo Reno 8 Pro looks premium and classy and has a beautiful 120Hz OLED display with very slim bezels. The MediaTek Dimensity 8100 Max chip can run every app and game with ease, while the battery life is excellent. You also get a fast 80W charger with the phone. You will also love the camera performance as it gives bright and well lit photos in all lighting conditions. (Priya/HT Tech)
    image caption
    2/5 Apple iPhone SE 3rd Gen: With a price tag of Rs. 41,990, iPhone SE 3rd Gen packs the A15 Bionic chip and offers great performance plus you have a pair of reliable cameras on the front and back. The phone also supports IP67 water and has a dust resistance certification. (Amritanshu / HT Tech)
    image caption
    3/5 Nothing Phone (1): With a starting price of Rs. 32,999, the Nothing Phone (1) is currently the most beautiful looking phone in the market with its strikingly good Glyph lights. It has got a bright and smooth 120Hz OLED display, a clean iteration of Android, good battery life, decently fast charging, and a set of well-tuned cameras. (Amritanshu/HT Tech)
    Google Pixel 6a
    4/5 Google Pixel 6a: Priced at Rs. 43,999, the Google Pixel 6a gets the powerful Google Tensor chip that runs everything fast. The OLED display is good to look at and the 4410 mAh battery is another bonus. The 18W charger may be slow but you have those brilliant tuned 12MP + 12MP dual rear cameras that churn out some good looking still photos. (Google)
    image caption
    5/5 Samsung Galaxy A73: With a price tag starting from Rs. 41,999, the Samsung Galaxy A73 gets a 6.7-inch AMOLED display with a refresh rate of 120Hz. The One UI experience is great although the bloatware needs to be watched out for. The phone also offers great battery life and a reliable set of cameras. You also get IP67 certification. (Amritanshu / HT Tech)
    Online gaming
    View all Images
    India tax panel may not reach consensus on taxing online gaming. (Pixabay)

    A panel of Indian state finance ministers has yet to submit its report on taxation of the booming online gaming sector that is crucial to a final decision on how the levies should be imposed, a senior government official said on Monday.

    The panel has for weeks been deliberating how it should tax online gaming companies -- and whether federal tax should be imposed on only the profits of firms or on the value of the entire pool of money collected from participants.

    The panel is unlikely to reach a consensus this month, the official told reporters in New Delhi.

    Real-money online games have become hugely popular in India, prompting foreign investors like Tiger Global and Sequoia Capital to back local gaming startups Dream11 and Mobile Premier League, popular for their fantasy cricket games.

    Any decision on this in the upcoming meeting of India's goods and services tax (GST) council on Dec. 17 will be contingent on availability of the report which has yet to be finalized, the official said.

    India is also separately working on federal regulations for the gaming sector that research firm Redseeer estimates will be worth $7 billion by 2026, dominated by real-money games.

    Those planned regulations will apply to all real-money games after the prime minister's office overruled a proposal to only regulate games of skill and leave out games of chance, Reuters reported on Sunday.

    During the Dec. 17 meeting of the GST council, the panel of federal and state finance chiefs will also discuss decriminalising the tax laws by way of raising the threshold for prosecution, the official added.

    A separate government panel tasked with rationalisation of GST rates is also discussing the 18% tax levied on health insurance, amid calls seeking a lower rate, said the official.

    Follow HT Tech for the latest tech news and reviews , also keep up with us on Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

    First Published Date: 06 Dec, 01:43 IST
    NEXT ARTICLE BEGINS
    keep up with tech