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In the existing scenario, skill-based gaming companies pay 18% GST on the platform fees. The platform fee is charged when a user joins a paid pot. However, the GST council has proposed to levy a 28 percent GST on the full face value of player deposits from (date). In a bid to avoid repeat taxation, the council has recommended that GST be levied on deposits instead of every bet placed.
Let's understand the existing GST regime.
In the existing GST regime, no GST is charged on the deposit to the user. Thus, if the user wants to deposit Rs. 100, then by performing a transaction of Rs. 100, he can deposit Rs. 100 to his PlayerzPot deposit wallet.
Now let's understand the new GST regime...
If a player deposits Rs.100 to play a game, there will be 28% GST levied on the deposit amount, and the user will need to complete a transaction of Rs. 128 (Rs. 100 + 28% of Rs. 100). Thus, Rs. 100 will be settled in the user’s deposit wallet and the Rs. 28 will be accounted for GST paid. The details of GST paid by the user can be viewed in the View Transactions on the application.
Deposit Amount (A) Rs. 100
GST on A (@28%) (B) Rs. 28
Total Payable Amount (A+B) Rs. 128
Comparing the Deposit Case Before and After GST
Before GST After GST
Deposit Amount (A)= Rs. 100 Deposit Amount (D)= Rs. 100
GST on A(@0%) (B)= Rs. 0 GST on D(@ 28%) (E)= Rs. 28
Total Payable Amount (A+B)= Rs. 100 Total Payable Amount (D+E)= Rs. 128

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