The Goods and Services Tax Council agreed to levy a 28% tax on complete face worth on on-line gaming, casinos and horse racing. The choice attracted sturdy dissent from the web gaming business, together with BharatPe co-founder Ashneer Grover, Mounting his assault at the govt, he mentioned that it used to be time for startup founders to go into politics and be represented.
“RIP – Real money gaming industry in India. If the govt is thinking people will put in Rs 100 to play on Rs 72 pot entry (28% Gross GST); and if they win Rs 54 (after platform fees)- they will pay 30% TDS on that – for which they will get free swimming pool in their living room come the first monsoon – not happening ! [sic.]Grover said in a tweet.
“It used to be excellent amusing being a part of the delusion gaming business – which stands murdered now. $10 Bn down the drain on this monsoon. Time for startups Founders to go into politics and be represented – or that is going to be spate business after business,” he added Grover
Grover launched his own fantasy gaming named Cricket in April this year. The game allows users to create a virtual team of cricketers based on their current forms. The gamers then earn points and win cash prizes based on the performance of those cricketers in real matches.
According to the council, there should be no distinction between a “recreation of ability” and “recreation of likelihood” – that closes a loophole that allows fantasy sports companies to justify their offerings as skill-based.
Grover continues to attack
He said that he would love to see the government introduce 28% GST and 20% TCS on land purchases.
“India is tremendous amusing! Super ironic! Uncles sipping on their beverages, smoke in hand, bragging about how they made their fortunes in land hypothesis – by way of placing their money to excellent use, making plans their subsequent Casino shuttle to Macau and passing judgment on on-line gaming and the way its spoiling the early life,” he added.
Grover further mounted his attack on BCCI saying why was the cricket board allowed to take Dream 11 (a popular fantasy game that has the same concept as the Crickpe).
“Also why judgment on on-line gaming now ? Everyone from Virat Kohli to MS Dhoni to Sourav Ganguly have recommended on-line gaming. Why used to be India public / Govt / BCCI now not outraged by way of all cricketers endorsing ? Why used to be [the] BCCI allowed to take Dream 1 as identify sponsor? Sab Doglapan hai – Tech founders are dispensable – that is the most effective fact, [sic.]he added.
“RIP – Real money gaming industry in India. If the govt is thinking people will put in Rs 100 to play on Rs 72 pot entry (28% Gross GST); and if they win Rs 54 (after platform fees)- they will pay 30% TDS on that – for which they will get free swimming pool in their living room come the first monsoon – not happening ! [sic.]Grover said in a tweet.
“It used to be excellent amusing being a part of the delusion gaming business – which stands murdered now. $10 Bn down the drain on this monsoon. Time for startups Founders to go into politics and be represented – or that is going to be spate business after business,” he added Grover
Grover launched his own fantasy gaming named Cricket in April this year. The game allows users to create a virtual team of cricketers based on their current forms. The gamers then earn points and win cash prizes based on the performance of those cricketers in real matches.
According to the council, there should be no distinction between a “recreation of ability” and “recreation of likelihood” – that closes a loophole that allows fantasy sports companies to justify their offerings as skill-based.
Grover continues to attack
He said that he would love to see the government introduce 28% GST and 20% TCS on land purchases.
“India is tremendous amusing! Super ironic! Uncles sipping on their beverages, smoke in hand, bragging about how they made their fortunes in land hypothesis – by way of placing their money to excellent use, making plans their subsequent Casino shuttle to Macau and passing judgment on on-line gaming and the way its spoiling the early life,” he added.
Grover further mounted his attack on BCCI saying why was the cricket board allowed to take Dream 11 (a popular fantasy game that has the same concept as the Crickpe).
“Also why judgment on on-line gaming now ? Everyone from Virat Kohli to MS Dhoni to Sourav Ganguly have recommended on-line gaming. Why used to be India public / Govt / BCCI now not outraged by way of all cricketers endorsing ? Why used to be [the] BCCI allowed to take Dream 1 as identify sponsor? Sab Doglapan hai – Tech founders are dispensable – that is the most effective fact, [sic.]he added.