Why did Supreme Court back curbs on online gaming?
What were the two sets of appeals concerning the regulation and taxation of online gaming platforms in front of the Court? What were the main objections raised by gaming companies against the GST levy? What are the likely consequences for India’s online gaming industry?
India's Supreme Court has upheld new regulations and taxation measures targeting the online gaming sector. These rules impose a Goods and Services Tax (GST) on the full value of bets placed on online games, a move that gaming companies had challenged. The companies argued that the tax should only apply to the platform's commission, not the entire bet amount, citing concerns about the industry's viability under the new regime.
This decision significantly impacts the financial landscape and future growth prospects of India's burgeoning online gaming industry.
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