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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...
When you deposit Rs. 100 to play a game, a 28% GST will be applied to the deposit amount. However, rest assured that you can still join pots with the entire amount you add. For instance, if you add Rs. 100, you will still be able to play for the full Rs. 100. So, even though GST is levied on the deposit, it does not affect your ability to participate in contests with the full deposited amount.
When you deposit Rs. 100 into your account, you'll receive Rs. 78.13 as your deposit amount (A). The GST on this amount is Rs. 21.87 (28% of Rs. 78.13).
In addition to this, you'll also receive Rs. 21.87 from PlayerzPot as GST Cashback(B). This cashback can be used in full for joining contests.
Deposit Amount (A) Excl Govt. Tax Rs. 78.13
GST on A (@28%) Rs. 21.87
GST Cashback (B) Rs. 21.87
Added to Current Balance (A + B) Rs. 100

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