India's GST Council Imposes 28% Tax on Online Gaming Industry
TL;DR Summary
India plans to impose a 28% tax on online gaming, casinos, and horse racing, closing a loophole that allowed fantasy sports companies to justify their offerings as skill-based. The move has been criticized by the gaming industry, with trade bodies calling it unconstitutional and catastrophic. Online gaming is a fast-growing industry in India, with fantasy sports startups raising billions. The Indian IT Ministry has also directed gaming firms to form self-regulatory bodies to determine which games are permitted in the country.
- India deals a 28% tax blow to online gaming industry TechCrunch
- India deals blow to online gaming industry with 28% tax Reuters India
- India hits online gaming with 28% tax Al Jazeera English
- GST council's 50th meet today; taxation on gaming, MUV definition on agenda Hindustan Times
- India's GST Council decides uniform taxation for utility vehicles Reuters India
- View Full Coverage on Google News
Reading Insights
Total Reads
0
Unique Readers
0
Time Saved
3 min
vs 4 min read
Condensed
87%
611 → 81 words
Want the full story? Read the original article
Read on TechCrunch