Gameskraft

Affected employees will receive severance as per their employment agreements, including leave encashment based on total salary.

Former Gameskraft CFO diverted company funds to F&O trading, incurring Rs 250 crore losses, FIR says

The real-money gaming firm has filed a police complaint against former CFO Ramesh Prabhu for allegedly siphoning funds over nearly five years

After Dream11, Gameskraft says it won't pursue a legal challenge to government's real-money gaming ban

"As a responsible and law-abiding corporate entity, Gameskraft has no intention of pursuing any legal challenge to the legislation. We fully respect the legislative process and remain committed to operating within the framework of the law," a company spokesperson said.

Online Gaming Bill: Dream11 parent firm, Gameskraft, Zupee, MPL begin suspending its RMG offerings

The proposed gaming law explicitly prohibits the offering of online money games or RMG apps, with penalties of up to three years of imprisonment or fines of Rs 1 crore for violations.

Gameskraft to pause operations of online poker platform Pocket52

Halting operations was part of a 'broader plan to reassess and reimagine its long-term approach', the company said.

Online gaming: Understanding the tangled web of taxes

The gaming industry hopes the GST council will offer relief by scrapping the retrospective part of the tax on online games. It also hopes for a review of the tax rate and the calculation methods. Moneycontrol explains.

Online gaming firm Gameskraft buys 8.61-acre land in Gurugram for Rs 90 crore

The documents showed that the sale deed was executed on March 11, 2024. Gameskraft Technologies Private Limited paid a stamp duty of Rs 6.3 crore for the transaction along with a registration fees of Rs 50,000.

Govt to file plea seeking transfer of all GST-linked online gaming cases to SC

Additional Solicitor General (ASG) Venkatraman also clarified that all the arms of the government were working in tandem on online gaming cases and noted that there is no differences in opinion on the issue as reported by media.

Online gaming firms to argue skill game played with money is still ‘skill’: Sources

The involvement of money does not change the nature of the game. If one plays chess with money, chess does not become gambling, but remains a game of skill. This is the argument gaming firms will present in courts, said a source

Gameskraft's FY23 profit rises 14% to Rs 1,062 crore

Gameskraft's revenue from operations rose 24.8% to Rs 2,662.51 crore for FY23, from Rs 2,133.1 crore in FY22

PhonePe’s Indus Appstore onboards real-money gaming apps ahead of public launch

These partnerships are expected to give a major boost to Indus Appstore as the company looks to challenge the dominant Google Play Store in mobile app distribution.

Exclusive: Govt may request Supreme Court to club all GST online gaming cases

The clubbing of all cases under the same principle will save Central Board of Indirect Taxes and Customs (CBIC)'s resources and time and facilitate a uniform interpretation of the law in the case of all the companies fighting the case.

Why online gaming companies are engulfed by a sinking feeling despite the Cricket World Cup fever

Just not retrospective taxation which is before the Supreme Court now, the fragmented online gaming industry is seriously missing a central self-regulatory body as envisaged by MeitY

Gaming firms may use grey area in GST law to challenge 'retrospective' taxation: Sources

Officials say the centre will leave it to the courts to decide whether the notices sent for the period prior to October 1 for 28 percent GST are valid or not.

Retrospective tax notices: Online gaming firms should approach govt, GST Council over 28% tax, say experts

The companies could push for the GST Council to implement these tax changes prospectively rather than retroactively, thereby mitigating immediate financial hardships, legal experts say.

Do not want tax notices to kill online gaming industry: Govt officials

Though the revenue department will go ahead with issuing demand and show cause notices to online gaming companies for additional tax liability from 2017 onwards, the Centre is concerned about a situation where these businesses are killed due to the huge tax demand, two senior government officials said. These notices pertain to the old GST rate of 18 percent on gaming and 28 percent on betting. The new GST rate of 28 percent is yet to come into effect.

Gameskraft ‘temporarily deprioritises’ super app plan in favour of building standalone apps

Gameskraft has launched super app Gamezy's rummy and ludo offerings as standalone apps while its fantasy offering will not be available from September 18

40 online gaming companies likely to receive notices for GST evasion: Govt officials

After a SC stay on a Karnataka HC order quashing the GST authorities’ tax evasion notice on Gameskraft Technology, a horde of show-cause notices is likely to follow, an official said. GTPL is among the 40-odd companies being investigated now for alleged tax evasion.

Exclusive | Gameskraft likely to get CBIC demand notice with penalty: Revenue officials

The Karnataka HC had quashed a GST notice for tax evasion worth Rs 21,000 crore against the online gaming company. With the SC staying that order, the Central Board of Indirect Taxes and Customs is likely to issue a demand notice, said sources.

Gameskraft case: SC stays Karnataka HC's judgment quashing Rs 21,000 cr GST notice

In September 2022, a GST intelligence unit issued a show-cause notice to Gameskraft Technology alleging that the company failed to pay Rs 21,000 crore in GST, the biggest such claim in the history of indirect taxation.

DGGI sends show-cause notice on GST evasion worth Rs 3,000 crore to two online gaming firms

A similar notice was sent to Bengaluru-based Gameskraft Technology for tax evasion worth Rs 21,000 crore in Sept 2022. However, sources say this tax evasion occurred before the GST Council fixed a 28% tax on online games.

Gameskraft partners WBNUJS for a gaming & tech research centre

The centre will research on topics wherever the law interfaces with areas such as gaming, technology, and sports.

Big relief for Gameskraft, Karnataka HC quashes Rs 21,000-crore GST notice

In September 2022, GST Intelligence unit issued a notice to Gameskraft Technology alleging that the company failed to pay Rs 21,000 crore in GST, the biggest such claim in the history of indirect taxation