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Grim outlook for real-money gaming
Mint Mumbai
|December 29, 2023
After a disruptive 2023, many real money gaming operators are paring down estimates for 2024 as they prepare for a bleak future. Home to around 400 startups, the sector faces challenges in planning for near term growth due to the double disruptions caused by a new tax regime.
While new goods and services tax (GST) guidelines have resulted in users paying considerably more on their earnings than in pre-covid times, huge retrospective tax liability awaits the businesses.
The GST Council has demanded ₹1.12 trillion tax payments retrospectively. However, as the notices await adjudication, the final figure has not yet been determined under the provisions of Central GST Act.
Esta historia es de la edición December 29, 2023 de Mint Mumbai.
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