homevideos Newsstartup NewsGames24x7 says 28% GST on entire entry fee will make the business unviable

Games24x7 says 28% GST on entire entry fee will make the business unviable

Online gaming industry is waiting to have a detailed regulatory framework and some clarity on taxation from GST council for better operations. Industry player Games24x7's Co-Founder and Co-CEO Bhavin Pandya in an exclusive interaction with CNBC-TV18 said 28 percent GST on entire entry fee will make the business unviable.

By Ritu Singh  Nov 1, 2022 10:20:16 PM IST (Updated)

1 Min Read
Online gaming platform Games24x7 on Tuesday28 percent GST on the entire entry fee will make the business unviable.
This comes after the online gaming industry is waiting to have a detailed regulatory framework and some clarity on taxation from the GST Council for better operations.
In an exclusive interview with CNBC-TV18, Games24x7's co-founder and co-CEO Bhavin Pandya said, "Currently, we pay 18 percent GST on the revenue that we generate from providing the service. We welcome the 28 percent GST if it’s on the revenue that we generate."