The GST Conundrum in Gaming Industry: How the 28% tax on contest fee will end the gaming industry’s growth

The online gaming industry is waiting for the Group of Ministers to meet in early September for the new goods and services tax (GST) policy. The industry has been verbally contesting against the GST introduced by the government, suggesting 28% tax on the contest fee. While the tax rate is higher– from 18% to 28%, the basis of industry’s ire is not just the rate but the valuation on which it i…