28% GST will be a pandemic for every player & Companies as well

These days real money gaming industry has been grown up monstrously and player from every where likes to play and to earn some of profit from it. Supreme court had also agreed on this that Fantasy games are not gambling nor a luck game its simply the game of skill where user uses their skill based to their games accordingly on this platform.

PLATFORM IMAPACT

Well we all know big fantasy industry like Dream11/My Circle11/Vision and other big companies who have like more than 10 crores user on their platform, from which every player uses the platform to show their game of skill there and earn some of profit there with their skill. So if player has to face this big value on their deposit then no one would be playing such games because if Government already takes the almost 30% of your deposit then there is no such way that any mature player would accept this

What will be the impact on Real money gaming industry after 28% GST on face value. We will be talking about the deep impact on this topic as how far this could go and will all this fantasy and real money gaming apps and sites will terminate their selves because of this insane face value taxation?

GOVERNMENT’s 28% insane taxation on Player not on company!!

What actually government have done here?? Government have actually processed the 28% GST on face value which will be implemented by 1st of OCT 2023 and will be revied after 6 months or within these month to change or leave as it is.

WHAT IS FACE VALUE??

Face value is where player has to face the entire 28% valuation on their deposit not company. Now what was happening previously on gaming platform that when a player deposits their 100 rupees they gets 85 after deduction of 15% platform fee and include 18% tax on this and now this will be 164.5 rupees price pool and after deduction of 30% your profit will be only 45 rupees instead of 64 rupees.

Now after 28% of face value execution now assume both of the player deposits 100 rupees now they will receive only 72 rupees to their gaming account after that the price pool will be 144 and after deduction of 15% of company platform fee it will be 122 and now if you won the match you will receive 122 rupees and now you have 22 rupees profit after that lets cut 30% of TDS from it now your profit is 16 rupees only/-.