28% GST Decision "Will Wipe Out Entire Industry": Online Gaming Firms
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Online gaming players urged the government to levy 18% GST on their segment. (Representational) New Delhi: Online gaming companies on Tuesday said that levying of 28 per cent GST will limit their ability to invest in new games, impact cash flows as well as business expansion. The GST Council has agreed to impose a 28 per cent tax on online gaming, casinos and horse racing. The tax would be levied on the full face value. The All India Gaming Federation (AIGF), which represents companies like Nazara, GamesKraft, Zupee and Winzo, said the decision by the council is unconstitutional, irrational, and egregious. "The decision ignores over 60 years of settled legal jurisprudence and lumps online skill gaming with gambling activities. This decision will wipe out the entire Indian gaming industry and lead to lakhs of job losses and the only people benefitting from this will be anti-national illegal offshore platforms," AIGF CEO Roland Landers said. He said that when the ce