Starting from October 1, there will be a 28 percent tax imposed on the full face value of bets placed on online games, despite calls for a review from states like Delhi and Goa, according to finance minister Nirmala Sitharaman. The GST Council, which consists of the Union finance minister and representatives from all states, …
The recent decision made by the GST council to impose a 28% tax on the full face value of bets in online gaming has sent shockwaves through the industry. This move is seen as a significant setback that could have devastating consequences and put the very survival of the gaming industry at risk. It is …
Online gaming companies expressed their concerns regarding the 28 percent GST imposed by the GST Council on online gaming, casinos, and horse racing. This tax will not only limit their ability to invest in new games but also impact their cash flows and hinder business expansion. The All India Gaming Federation (AIGF) strongly criticized this …
The Goods and Services Tax Council, which convened in New Delhi on July 11, has delivered unfortunate news to online gaming companies. The council has agreed to impose a 28% tax on online gaming, casinos, and horse racing. This tax will be based on the full face value of these activities. The decision was reached …