- May 2, 2024
Last year the government of India imposed a higher tax of 28 percent on online real money gaming companies as goods and services tax. Gamers playing real money games on real money gaming platforms such as tigerexch-id.com felt a burden on their betting money as this leads to higher cut in betting amount .The companies naturally challenged this and filed petitions in various high courts of the country.
Now the Supreme Court has transferred all such petitions to itself. Total 27 such petitions are now in the highest court of the land. These petitions were pending across the country in nine high courts. The final judgment will be in the first week of May. This could lead to higher retrospective taxes worth thousands of crores on real money gaming companies.
Companies operating real money gaming platforms in India demand reduced taxes. They have articulated their fears that such higher taxes will make it difficult for them to survive. The fear of higher tax has already led to consolidation in the gaming industry. Smaller companies have merged with bigger companies.
There is no impact on the gamer community. The professional gamer community has emerged of late in the country. This community uses skills developed in online gaming to create winning opportunities through betting. Betting for gamers, who are experienced and professional, is a skill based activity. Gamers with tiger exchange cricket idare confident that with growing skill, it becomes possible to earn handsome rewards through betting.
The positive point about goods and service taxation is that it has made betting legal in the country. Now a gamer with tigerexchange cricket id, who is sure of her skills in real money games, can visit any online platform. The platforms provide id to place bets on cricket or any sports where a gamer feels she can have odds in favor. For gamers real money gaming is all about the skill.