Kick Rummy on the imposition of a 28% taxation on Online Gaming from October 1st.
“This is a major setback for the overall gaming industry as players will be less willing to pay higher taxes on their wagering. So, most players will switch to offshore operators, where they can avoid the overall taxation (GST & TDS).
As an Indian operator, this will make it more difficult to compete with one another and stifle the growth of the industry (which has been rising exponentially over the past few years). It will also be very difficult to compete with offshore operators, who are not subject to GST.
Management of Kick Rummy
Other effects that will be seen:
>job losses in the online gaming industry.
>deter FDI in the online gaming industry.
>damage the reputation of India as a gaming destination.
>detrimental to the overall Indian startup ecosystem.
However, the government’s willingness to review the decision after six months gives everyone some hope for the future of the online gaming industry.”
