Online gaming platform Games24x7 on Tuesday said that, 28 percent GST on the entire entry fee will make the business unviable.
This comes after the online gaming industry is waiting to have a detailed regulatory framework and some clarity on taxation from the GST Council for better operations.
In an exclusive interview with CNBC-TV18, Games24x7's co-founder and co-CEO Bhavin Pandya said, “Currently, we pay 18 percent GST on the revenue that we generate from providing the service. We welcome the 28 percent GST if it’s on the revenue that we generate.”
“If they are going to levy the GST on the entire entry fee which is the amount that I am playing for, then that will make the business unviable for the industry,” Pandya added.
Source: CNBC TV18
https://www.cnbctv18.com/videos/startup/games24x7-says-28-gst-on-entire-entry-fee-will-make-the-business-unviable-15068381.htm
https://www.cnbctv18.com/videos/startup/games24x7-says-28-gst-on-entire-entry-fee-will-make-the-business-unviable-15068381.htm
