GST: Gameskraft discontinues Fantasy Platform

Gameskraft, a Bengaluru-based gaming platform will discontinue its fantasy offering Gamezy Fantasy, which allowed cricket fans to pick virtual teams, compete in virtual tournaments, and win prizes from Monday.

SC stays Karnataka HC’s judgment quashing Rs.21,000 Crore GST notice issued to Gameskraft

For several months, the platform has been in the spotlight due to a Rs.21,000 crore GST demand from tax authorities.

According to the company, current industry trends and internal insights have highlighted the need for deep category specific experiences to provide its players with wholesome and immersive gameplay.

“Given our portfolio’s vision, we have made a strategic decision to reassess and temporarily deprioritize our Gamezy super app. We are concentrating our efforts on the creation and promotion of dedicated single-app initiatives, such as our recently launched RummyPrime, LudoCulture, and other initiatives. This focus allows us to focus on our core competencies and direct more resources towards providing unparalleled user experiences,” a company spokesperson said.

According to the company, this reassessment of strategic priorities will have no negative impact on workforce planning or talent deployment. “Furthermore, these changes are unrelated to the recent GST law amendments,” the spokesperson added.

Prithvi Singh, a former Grofers engineer, founded Gameskraft in 2017.