look news india
Online Gaming Industry: The online gaming industry is continuously demanding to reduce GST to 28 percent, so the times to come may be challenging for the industry.
Of course, the industry is now looking for new ways to maintain continued engagement on its platforms. Now they have a new system to provide relief to the gamers on their platform by converting this burden into a discounting form to provide some relief to the gamers from this increased tax burden. If we look at the 28 percent GST recently implemented by the government, then tax of Rs 28 will have to be paid on Rs 100.
Of course the industry is now offering discounts on this amount in virtual currency or even token arrangements, in other words they are providing the amount to online gaming gamers for convenience. Thus the gaming industry is trying to retain players on its platforms. It is noteworthy here that neither the currency nor the token system is taxed.
An informed official associated with the online gaming industry said that India's online gaming sector is growing rapidly and is expected to grow at a CAGR of 20 percent recently. With this, a significant increase in real-money gamers (RMG) is expected.