Gaming cos innovating to survive 28% GST burden
Financial Express Mumbai|February 11, 2024
IN A BID TO offset some of the impact on their margins hit by the 28% Goods and Services Tax (GST), over four months after it came into effect on October 1, the online gaming industry is looking to innovate and even incentivise users.
KUNAL DOLEY

"Operating costs of gaming companies have increased by 4x to 6x times after the implementation of 28% GST on deposits. Companies are trying to offset this increased cost by reducing their marketing budgets, laying off employees and adoption of other cost-cutting measures at different levels to survive," said Aman Gupta, VP, finance, Witzeal Technologies, a gaming company that operates the popular Big Cash platform.

As per reports, major industry players have already started providing special cashback offers and incentives to offset the GST burden on players.

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