Finance Minister Nirmala Sitharaman says the tax on online gaming, casinos and horse racing will be implemented from October 1, but it will be reviewed in six months. Players point out that valuations may take a hit and the new tax regime may compel them to rejig business models
“Net results in an 8 to 9 percent revenue [GST payout] only. Assuming this 18 percent becomes 28 percent on GGR, even then we will be collecting only around 11 to 12 percent. I’m sorry to say the current collection is far lesser than the tax that we levy for some of the essential goods for households; this is gaming, you're wagering on it," said Finance Minister Nirmala Sitharaman; Image: Shutterstock