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28% GST on online gaming. Tough times for dream11, mpl etc
Online gaming startups are among those rare breeds which were profitable . With this move, even they will be forced to do layoffs..
16mo ago
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Online gaming startups are among those rare breeds which were profitable . With this move, even they will be forced to do layoffs..
Not sure if my understanding below is 100% correct but: Gambling should be curtailed. It's good. If we are gonna permit it just to make money. Let's squeeze them. Gambling just hurts people. Encouraging the worst among us. Hope it doesn't result in black market stuff though..
Not sure what the current GST is but isn't the increase just going to be passed on to customers?
Assuming the current GST is 18% do you think a 10% increase is going to discourage a larger chunk of their users ?
Also very curious to know what their non-ipl period financial performance is. Does anyone have info on that ?
As per the news, GST is being levied on full value (pot amounts), not on the platform fees. Meaning, if you put 100 bucks, levied GST would be 28 bucks.
The devil lies in the detail, for a 100 winning pot if the GST is applied at 18% / 28% it's doomsday But if for a Rs 100 pot, the GST is only on platform fees ,usually 10-15% then the only difference is about Rs1-1.2. Which can be borne by the deep pockets of dream11
Dream11, Crikpe and all others
Looks like the gaming federation is trying really hard to lobby government and get the decision reversed. Any thoughts?
Folks at Dream 11, Games24×7, Junglee, etc how's the environment in the office? Have there been any updates from the leadership regarding the direction they'd be taking? As of now, here at Gameskraft it's an elephant in the room with ev...
I’m from a esports gaming company. Spoke to my CEO regarding this today morning. This move is completely short ...
Heard MPL is laying off massively , due to 28% GST rule in gaming. Employees have been asked to work for home for a week , so that they can structure layoffs.