Ashneer Grover explain math's of why 28% GST on online gaming will ruin the industry: Watch video
Ashneer Grover explained the math in detail how the tax of 28% imposed on the gamer will take away a large chunk of his earnings which will make the whole exercise futile and slowly people will start wading away from online gaming because it is not that profitable anymore. The BharatPe cofounder submitted that the gamer will not play for such low returns and consequently, the gaming industry will not earn revenue which means no tax for the government.
While appealing to the government to reconsider their decision Ashneer Grover gave the example of the stock market and said that the government doesn't levy GST on the whole amount but the brokerage earned. Amid calls for reconsideration from several quarters, Minister of State for Electronics and Information Technology Rajeev Chandrashekhar said that his ministry will ask the GST council to reconsider the 28% GST on online gaming.
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