India Observers

The Supreme Court of India has recently made a crucial decision regarding Goods and Services Tax (GST) demands on online gaming companies. Two major players in this field, Head Digital Works and Games 24/7, were looking for immediate relief from these GST demands, but the Supreme Court didn't grant it. What's The Core Issue?  Well, the government decided to impose a 28% GST on the full amount of bets placed in online games. This decision is to be applied retrospectively, meaning it takes effect from the past, specifically from October 1. Earlier, these companies were paying 18% GST, but now they're facing a much higher rate. Perspectives Of Gaming Companies The gaming companies, represented by Senior Advocate Harish Salve, asked the Supreme Court to tell the government not to act on these tax demands until the court fully reviews this matter.  They're feeling the pressure because the GST department is constantly asking for details and any negative decision could really...

 Lorenzo Giorgetti, The Chief Racing Revenue Officer of Ferrari, has been tasked to solidify the long-term relations with sponsors during all racing events. In accordance with a multi-year cooperation agreement inked by Ferrari’s namesake division, online gaming company Virtual Gaming Worlds (VGW) will become a premium partner of Ferrari’s Formula 1 racing team. Ferrari Chief Racing Revenue Officer Lorenzo Giorgetti stated in a statement that VGW, “shares our enthusiasm for innovation and thinking outside the box” as pioneers in the gaming technology industry. Giorgetti, who just joined the Italian organization, has been given the responsibility of strengthening long-term connections with sponsors across all racing-related operations. Also, he is in charge of reporting on the burgeoning Esports sector of video game sporting events. The relationship will start working after this weekend’s Formula 1 Grand Prix in Bahrain, according to the firm. Ferrari Real Race Events Drivers from ...