What Does The Proposed GST Hike Mean For Indian Gaming Startups?

What Does The Proposed GST Hike Mean For Indian Gaming Startups?

SUMMARY

The online gaming industry has experienced tremendous growth, with over 1K gaming startups entering the market and giving rise to three of our country's largest unicorns

The recommendations of the 47th GST Council Meeting have alarmed the gaming industry, which could face a nearly 1,000% increase in taxation

To build on the government’s vision and sustain the momentum of the industry, an efficient taxation rate on the right value system is of profound importance

In the last decade, technology-driven businesses in India have taken to the skies. The government’s various initiatives to invite all Indian citizens onto the digital verse and equip them with access and guidance to navigate this space have transformed people’s lives. 

The government’s commitment to increasing the use of digital technology is changing the way people in India live. Even Prime Minister Modi recently stated that India is quickly becoming a world leader in the digital revolution, particularly in online gaming.

Note: The views and opinions expressed are solely those of the author and does not necessarily reflect the views held by Inc42, its creators or employees. Inc42 is not responsible for the accuracy of any of the information supplied by guest bloggers.

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