On gambling sites, casinos, and horse racing, the Goods and Services Tax Council decided to impose a 28% tax on the whole face value of the transactions. Ashneer Grover, the co-founder of BharatPe, and other members of the online gaming community were highly disappointed by the decision. As he escalated his criticism of the government, he said that it was time for company owners to run for office and be heard.
“Rest in peace, Indian real money gambling business. If the government believes that individuals would put in Rs 100 to play on Rs 72 pot entry (28% Gross GST), and if they win Rs 54 (after platform fees), they will pay 30% TDS on that — for which they will receive a free swimming pool in their living room come the first monsoon — that is not going to happen. According to Grover’s tweet.
The fantasy game business, which is currently dead, was enjoyable to be a part of. During this monsoon, $10 billion was lost. Otherwise, this will happen in sector after industry, therefore it’s time for startup founders to become involved in politics and be heard, “he continued. Grover. In April of this year, Grover released his own fantasy game platform, called Crickpe. Users may build a virtual cricket team in the game using the players’ existing forms. Depending on how those cricketers perform in actual matches, the players can then receive points and cash rewards. The council claims that there should be no distinction between a “game of skill” and “game of chance”; this eliminates a loophole that permits fantasy sports businesses to claim that their offers are skill-based.
Grover continues to strike :
According to him, he would adore it if the government implemented a 28% GST and a 20% TCS on land transactions.
“I really enjoy India! amazing irony Uncles puffing on cigarettes while drinking their beverages, boasting about how they got their money via land speculation, making plans for their next trip to a casino in Macau, and making judgements about how internet gambling is ruining the youth, the author said.
Grover escalated his criticism of the BCCI by asking why the cricket body was permitted to take Dream 11 (a well-known fantasy game with a similar premise to the Crickpe).
“Also, why is internet gaming being judged now? Everyone has backed internet gaming, including Sourav Ganguly, MS Dhoni, and Virat Kohli. Why did the Indian public, government, and BCCI not object to all cricket players endorsing? Why was Dream 1 permitted to serve as the BCCI’s title sponsor? Doglapan hai, Sab The only reality is that tech entrepreneurs are unnecessary, he said.