The Indian government has announced that it would impose a heavy 28 per cent tax on the funds collected by online gaming firms from its customers, dealing a blow to the country’s fast-growing industry valued close to $2bn. India’s Goods and Services Tax (GST) Council, consisting of federal and state ministers, said on Tuesday that it has agreed to levy a 28 per cent indirect tax on online gaming, casinos, and horse racing, adding there should be no distinction between “game of skill” and “game of chance.” Industry experts have voiced concerns that the increased tax burden on the companies may lead to extra charges levied from customers. Companies have so far only paid a small tax on the fee charged from customers for playing games involving real money, but Tuesday’s new rule would impose a 28 per cent tax on the amount these firms collect from players in every game, dealing a hefty blow to their operations. “The implementation of a 28 per cent tax rate will bring significant challenges to the gaming industry. This higher tax burden will impact companies’ cash flows,” Aaditya Shah, an executive at the gaming app IndiaPlays, told Reuters. The new move also comes amid a number of reports across the country of gaming addiction and financial losses among fantasy cricket players and online card games. Commenting on the GST Council’s decision, Roland Landers, chief of the trade body All India Gaming Federation which represents firms like Mobile Premier League, Gameskraft, and Paytm First Games, said it is “unconstitutional, irrational, and egregious”. “This decision will wipe out the entire Indian gaming industry and lead to lakhs of job losses and the only people benefitting from this will be anti-national illegal offshore platforms,” Mr Landers said in a statement, TechCrunch reported. Ashneer Grover, co-founder of the Indian fintech company BharatPe and a former Shark Tank India judge, tweeted that the move may pose risks “not only for online games – but across sectors. Across startups.” “You got billions in from foreign investors as FDI (foreign direct investment). Celebrated FDI inflow! Now the same investors will apply regulatory risk discount to India and funds will dry up,” he said. “RIP – Real money gaming industry in India....It was good fun being part of the fantasy gaming industry - which stands murdered now,” Mr Grover tweeted. Read More A look at sports gambling rules among Big 4 pro leagues Seventh Indian cheetah died of ‘traumatic shock’ after fight with female, post mortem shows Record monsoon rains have killed more than 100 people in northern India this week £10 phone with e-wallet and streaming can bridge India ‘digital divide’, experts say Elon Musk reveals plan to use AI to reveal mysteries of the universe xAI: Everything we know about Elon Musk’s new AI company

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Apple is planning a cheaper version of its upcoming Vision Pro headset, according to reports – though it will still be far from cheap. The company announced its Vision Pro in June, starting at $3,500, and said that it would be coming in early 2024. Immediately, many noticed that the inclusion of the “Pro” in the name suggested that a cheaper version might also be on its way. Now new reports suggest that cheaper headset will cost as much as $2,500. The company is aiming for a price of $1,500 to $2,500, according to a new report from Bloomberg reporter Mark Gurman. That would still be considerably more expensive than other augmented reality headsets. The new Meta Quest 3, for instance, starts at $499, and the company has suggested that its lower price is one of the key ways it aims to compete with Apple. To make it cheaper, Apple is aiming to drop one of the key features from the Vision Pro, known as EyeSight. That is a screen that shows a virtual version of the wearer’s eyes on the front of the headset, to make conversations more natural and to give a sense of what the person is doing on the inside. The cheaper headset is also rumoured to include a cheaper processor – likely one from the iPhone, rather than the Mac chip that powers the Vision Pro – as well as fewer cameras and a less high-quality display. Apple has moved resources towards building the cheaper version, Mr Gurman reported in his Bloomberg newsletter. That has also meant moving staff away from devoted the augmented reality glasses that have been assumed to be the end goal of Apple’s work in headsets, but which he suggested had proven “too technically challenging” so far. Read More Google is about to ditch passwords forever You need to update your new iPhone if you want to avoid it getting hot Apple is preparing an urgent iPhone 15 update after they started overheating

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