The GST Council has spoken, and the much-debated 28% tax rate has come into effect. In light of this tax, one small startup has already shut shop. The crux — fantasy and real-money gaming startups will need to pay 28% of their revenue as tax, before a 30% TDS for gamers if they withdraw what they win. Under such a high tax slab, can India’s online gaming startups survive? We decode the impact.
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