No More Fun and Games: How a New Tax on Online Real Money Gaming Companies Is Poised To Cripple the Industry
BY Nimitt Dixit |
A new tax on online real money gaming (RMG) companies under India’s Goods and Services Tax (GST) regime has left the once-sunrise industry in a state of panic, with market players announcing layoffs and closures, revenue projections dropping significantly, and the whole sector preparing for legal battles against exorbitant tax demands worth over 1.5 trillion rupees ($18 billion).