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Budget 2023 boosts digitisation and formalisation of gaming sector: AVGC sector experts

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Experts and industry leaders in the AVGC (animation, visual effects, gaming and comic) industry praised the Union Budget 2023-24 as beneficial for the industry. Measures such as the clarification in the applicability of TDS only on the “net winnings”, and that too at the end of the year or during withdrawal, were particularly hailed as significant for the industry.

Bharat Patel, Chairman and Director, Yudiz Solutions Ltd, said, “Considering how fast India’s economy is adapting to modern technologies, the budget surely emphasizes the ‘Amrit Kaal’, mentioned by our Hon’ble Prime Minister. We at Yudiz are particularly thrilled that the government has recognised the potential of the gaming industry, and has taken steps in this budget towards fairer recognition of incomes from gaming. It is a positive move that the government has clarified that taxes will be applicable on net winnings, and not on aggregate winnings. We’re also grateful that Hon’ble Finance Minister FM Nirmala Sitharaman has said that the government will issue more clarity on the taxability of online gaming, and ease the tax burden. Proactive measures such as these can unleash the brimming gaming potential of India.”

Jay Sayta, technology and gaming lawyer, struck a more cautious note and said that while the measures are appreciated, more clarity was awaited on the calculation of net winnings.

“The budget and Finance Bill, 2023 has provided important clarity on applicability of TDS for winnings on online gaming platforms that the industry was seeking. It is a welcome step that the concept of ‘net winnings’ has been recognised in the Income Tax Act for online games and TDS only has to be deducted at the end of the financial year or at the time of withdrawal from the user account,” said Mr. Sayta. “However, the manner in which net winnings are supposed to be calculated and the set-offs that may be permitted before calculating such net winnings are left to be clarified by the CBDT through rules/guidelines. Hopefully, the CBDT will soon provide guidance on the manner in which net winnings have to be calculated.”

The new rules also bring parity between online gaming avenues such as apps and offline gaming avenues such as casinos.

Other measures such as the relief in customs duty for import of critical smartphone parts such as lenses and batteries will help stabilize smartphone prices, and help more Indians access mobile technologies and games. The raising of the minimum taxable slab from Rs.5 lakh to Rs.7 lakh under the new tax regime will also indirectly help the industry, as it increases disposable income available to consumers.

Experts also praised the overall support given to the startups in the form of the proposed National Data Governance Policy which will help start-ups access anonymised data, and providing the benefit of carry forward of losses on change of shareholding of start-ups from seven years of incorporation to ten years.

Suraj Chokani, Founder, Ability Games, said, “It is an excellent budget from every aspect, from our point of view. The FM spoke about 7 major thrusts in the budget, calling it Saptrishi, out of which the 6th pointer spoke about new-age technologies. Recognizing such new age tech in itself is a big boost to the industry as a whole and shows the forward looking character of the Government. Focus on MSME and Startups is also a welcome step from our perspective and will help us go a long way. Overall we are very happy and satisfied with such an inclusive Budget.”

Globally, the AVGC industry was valued at $168 billion in 2021, while the Indian AVGC industry was valued at $1.1 billion, a 28% growth over the previous year, according a report by the AVGC task force. The sector has plenty of room for growth, and the government’s recent decisions such as the proposed self-regulation of the online gaming industry and appointment of MeITY as the nodal Ministry will help boost the sector’s growth.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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S8UL Esports Unveils Power-Packed Call of Duty: Mobile Roster, sets its sights on national and international CODM glory

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This strategic move underscores S8UL’s unwavering commitment to expanding its presence across diverse video gaming titles

S8UL Esports, a global name in esports and gaming content, is thrilled to make its mark in the Call of Duty: Mobile (CODM) competitive scene with a formidable lineup of battle-hardened veterans. This new roster is primed to take on the best in the world and solidify S8UL’s position as a powerhouse in CODM esports.

The new S8UL CODM roster features:

  • Zeel Patel (Neutrino)
  • Samruddha Ghadge (SAMs)
  • Samartha Ghadge (JOKOs)
  • Rishi Dubey (Trunks)
  • Glenn Varshan (Ghost)
  • Chiranthan Shetty (BurnZ) – Team Coach

The roster boasts an enviable mix of experience, firepower, and tactical prowess. Neutrino and Trunks, in particular, have already made history by being part of their earlier lineup that secured a runner-up finish at the Call of Duty: Mobile World Championship 2023. Their journey to the grand final included a defining 3-2 victory over North American giants Luminosity Gaming, highlighted by a spectacular 7-0 sweep on Meltdown in the decisive Search and Destroy match, one of the most memorable moments in Indian CODM esports history.

Commenting on the team’s latest foray into CODM, Animesh Agarwal, Co-Founder of S8UL, said: “At S8UL, our vision has always been clear—whenever we enter a title, we aim to set the stage on fire, not just nationally but globally. CODM is no different. We’ve built a team we have immense confidence in, and I look forward to supporting them in reaching their full potential. This is an exciting new chapter for us, and we can’t wait to make our mark.”

With a squad filled with veterans who have competed at the highest levels of CODM, S8UL is ready to shake up the competitive landscape. The team will be making its debut in upcoming high-stakes tournaments, setting its sights on national and international championships and bringing laurels for the country.

“Joining S8UL is a massive opportunity for all of us. With the organization’s backing and vision, we have everything we need to push our limits, refine our strategies, and take on the toughest competition. We have the experience, the hunger, and the skill to compete with the best in the world, and we can’t wait to prove it on the battlefield and make the country proud on the global CODM stage,” said Zeel Patel aka Neutrino, IGL

Recently, S8UL made headlines by announcing its expansion into VALORANT with a star-studded roster, reinforcing its ambitions in the FPS competitive scene. S8UL Esports, renowned for its dominance in both competitive gaming and content creation, has already made waves in titles like Pokémon UNITE. With multiple Esports Awards and MOBIES wins to its name, the organization continues to expand its presence in the global gaming scene. The addition of a high-caliber CODM roster marks another significant step in its esports journey, reinforcing its commitment to elevating Indian esports on the world stage.

As S8UL Esports embarks on this exciting new chapter, the organization remains steadfast in its mission to set new benchmarks and create unforgettable moments in the world of esports. Stay tuned as S8UL Esports prepares to unleash its Call of Duty: Mobile roster onto the competitive circuit, with one mission in mind—victory.

 

The post S8UL Esports Unveils Power-Packed Call of Duty: Mobile Roster, sets its sights on national and international CODM glory appeared first on European Gaming Industry News.

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ITL Spain welcomes new Customer Support Advisor

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Innovative Technology Ltd. (ITL) are pleased to welcome Àlex Ventura Vilalta Customer Support Advisor, to their operations in Barcelona, Spain.

Àlex’s role is to provide first line customer support and advice to ITL’s customers in the region. The company has two main divisions; cash validation equipment and age & identity verification technology.

Commenting on ITL’s latest appointment, Bohke Otten, Senior Support Engineer for ITL said, “I am delighted to welcome Àlex to the team. He brings extensive help desk experience from previous roles so is accustomed to providing excellent customer service and solving technical problems. Àlex is already proving to be a key part of the support team and he has a fantastic rapport with our customers. His appointment further strengthens our ability to provide customers with a local, dedicated contact for technical assistance and advice.”

Commenting on his new role with ITL Àlex said, “In September 2024, I had the privilege of joining Innovative Technology as Customer Support Advisor for the Spanish market. I was attracted to ITL by its rich history, innovative cash validation products and forward-looking vision. I am working with various products such as the NV22S, Spectral Payout and SMART Coin System offering support to both retail and gaming customers ensuring that each interaction is positive and productive. I attended my first ITL exhibition, ICE Gaming in Barcelona, at the beginning of the year which was a great experience and enabled me to meet some of our customers face-to-face. I have always been fascinated by technology and how it can transform the way we do things and enjoy helping customers overcome technical challenges, so I am very excited to be part of this great team.”

Concluding Bohke said. “With an educational background in systems, networks and application development, Àlex has the technical expertise and knowledge to maintain the high level of customer support that our customers are familiar with. He values the importance of precision and efficiency in customer service and is a real asset to the team. I look forward to working with him to further develop our business, continuing to provide our customers with first-rate technical support.”

 

The post ITL Spain welcomes new Customer Support Advisor appeared first on European Gaming Industry News.

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kwiff sponsors Millwall FC for FA Cup Clash with Crystal Palace

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kwiff, the super-charged sports betting service, is proud to sponsor Millwall FC in their FA Cup tie against Crystal Palace at Selhurst Park  tomorrow.

The game will be broadcast live on BBC One, presenting a prime opportunity to showcase the kwiff brand to a nationwide audience. This sponsorship aligns with kwiff’s ongoing mission to raise brand awareness across the UK and Ireland, bringing its Supercharged betting experience to more punters than ever before.

Tomorrow’s clash will be the eighth time the two sides have met in the FA Cup, with the Lions edging the head-to-head by four games to three.

Director of Acquisition at kwiff, Garry McGibbon, said: “We at kwiff are very pleased to partner with Millwall FC before their upcoming FA Cup clash at the weekend. We’ll have our fingers crossed The Lions can Supercharge their way into the next Round!”

“We’re delighted to have kwiff on board for this weekend’s FA Cup Fifth Round tie against Crystal Palace,” added James Voisey, The Lions’ Head of Commercial. “The guys have been brilliant in throwing their support behind us, so here’s hoping they bring us luck and they’re on the winning side!”

The post kwiff sponsors Millwall FC for FA Cup Clash with Crystal Palace appeared first on European Gaming Industry News.

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