Quick Summary
It has been one year since the implementation of the 28% Goods and Services Tax (GST) on online gaming in India. While both companies and consumers have adjusted to the higher tax rate, a review of this levy remains a top priority for industry stakeholders. An industry expert recently shared insights on the ongoing challenges faced by gaming companies. We collect GST from consumers, but the burden is ultimately borne by the companies, he explained in an interview with Business Today. The expert
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FAQ :
The 28% GST on online gaming in India has been implemented for one year.
The main concern is that while companies collect the GST from consumers, the financial burden ultimately impacts their profit margins, leading to a review of the tax levy.
Companies are focusing on innovating around customer engagement and optimising their marketing expenditures to improve profit margins.
The industry hopes the government and GST Council will reconsider the tax rate once they review the financial filings submitted by online gaming companies.
The industry monitors customer behaviour, predicts trends, provides warnings, and has self-exclusion policies and a strong code of conduct to promote responsible gaming.
Stakeholders remain optimistic about the future of online gaming in India and hope for the whitelisting of legitimate gaming operations and apps.
CAclubindia
