Himani Chowdhary Instagram – 🚨NEW GST RULE ‼️
👉🏻 Applicable from 1st October.
👉🏻 Federation of Indian Fantasy Sports and E-Gaming Federation ne bola that The new tax framework will lead to a 350% increase in GST and set the Indian online gaming industry back several years.
👉🏻 The law will be reviewed after 6 months of its implementation
👉🏻 Several casino and gaming stocks like delta corp has faced the heat due to it.
✅ GAMING INDUSTRY WAS $2 BILLION IN 2022 🤯
👉🏻 Although GST on Betting apps is a good move but the same is applicable for skill based games as well like Quiz apps (some of them have shut down their business after this news)
👉🏻 Will the betting apps now register themselves offshore to prevent taxes? And the domestic gaming industry will bear the brunt of it 🥲 | Posted on 04/Aug/2023 13:58:37
