Millions of crores are currently spent on the online gaming industry, which also significantly contributes to the growth of the country's tax base. Watch this video to learn if, in certain conditions, the GST will hinder the expansion of this industry.
The sector has been arguing against the government's implementation of the GST which has recommended a 28% tax on the standard rate. The gaming business has seen both user and cash flow growth over the past few years. Significant investments have also been made in the nation by businesses like Tencent, which is the owner of hit titles like PUBG Mobile and Arena of Valor. But, all the accomplishments might come down by the Indian Govt. policy.
Online video gaming,or esports, has grown significantly in India in recent years. The Indian esports sector offers enormous opportunities for businesses thanks to a growing young population and expanding internet availability. The Ministry of Youth Affairs and Sports recognised esports as a sport in 2019 to further assist the esports business in India. As a result, a number of esports academies have been founded, and esports competitions have been added to both domestic and international sporting events.
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