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Tag: 28% GST

Online Gaming Industry Reacts To The 28% GST On Online Gaming Decision 28% GST

02 Aug, 2023 Online Gaming Industry Reacts To The 28% GST On Online Gaming Decision

The latest decision of the Goods and Service Tax (GST) to levy a 28% tax on the face value of deposits made in online gaming has left the industry disheartened. The new tax regulation will have a massive negative impact on the industry. To understand better what this tax really means, c...

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GST Council: 28% GST To Be Levied On Face Value Of Initial Deposits 28% GST

02 Aug, 2023 GST Council: 28% GST To Be Levied On Face Value Of Deposits

The 51st Goods and Service Tax (GST) Council meeting was held today, in which the council upheld that they would levy a 28% GST on the face value of the deposits made by players.  While clarifying the new amendment, the Finance Minister of India, Nirmala Sitharaman, said, “Valuation of ...

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28% GST On Online Gaming Claims Its First Casualty In Quizy 28% GST

02 Aug, 2023 28% GST On Online Gaming Claims Its First Casualty In Quizy

Last month the GST Council announced that it would levy a 28% GST on online gaming. Post that, there has been a lot of unrest in the online gaming community since the tax would mean that brands have to pay more than their revenues as taxes. And this decision has recorded its first casua...

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