Karnataka’s minister for Information Technology and Biotechnology (IT & BT) Priyank Kharge said that the 28 % tax slab on online gaming industry would damper Foreign Direct Investments (FDI) and start ups in the country. He also stressed that the move could even impact India’s $1 trillion digital economy target by 2025.
Slamming the Goods and Services Tax (GST) council, Priyank on Thursday tweeted, “Although I personally oppose all forms of gambling, implementing a flat 28% Goods and Services Tax (GST) on the gaming industry has significant negative implications. The tax applies uniformly, regardless of whether a game relies on skill or chance.”
He further expressed that the GST council should have made a mindful decision regarding the taxation on online gaming industry. “It would have been beneficial to consider this decision more thoroughly, as it could hinder the achievement of the $1 trillion digital economy target by 2025.
Read more at: Hindustan Times
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