Anupam Mittal Slams 28% GST On Online Gaming, ‘Stop Gaming, Start Building Rockets’ – News18

Slamming the GST Council’s decision to impose a 28 per cent tax on online gaming, Anupam Mittal, the founder of Shaadi.com and judge of Shark Tank India, on Thursday said entrepreneurs should not set up gaming companies and start building rockets.

On July 11, the GST Council decided to levy a tax at the uniform rate of 28 per cent on online gaming, horse racing, and casinos. The Council also exempted the rocket launch services by private players from GST.

“Latest lessons – stop gaming, start building rockets, move money from crypto to tomatoes,” Anupam Mittal said in a tweet.

On Wednesday, Ashneer Grover, the co-founder of BharatPe and former judge of the reality show Shark Tank India, has also said it was good fun being part of the fantasy gaming industry, “which stands murdered now”. It was with reference to the GST Council’s decision on Tuesday to levy 28 per cent tax on online gaming.

“It was good fun being part of the fantasy gaming industry – which stands murdered now. $10 Bn down the drain in this monsoon. Time for startups Founders to enter politics and be represented – or this is going to be spate industry after industry,” Ashneer Grover said in a tweet on Wednesday.

He added that if the government is thinking people will put in Rs 100 to play on Rs 72 pot entry (28 per cent gross GST); and if they win Rs 54 (after platform fees) — they will pay 30 per cent TDS on that — for which they will get free swimming pool in their living room come the first monsoon – not happening!

Stating that “India is Super Fun! Super Ironic,” Grover in another tweet said uncles sipping on their drinks, smoke in hand, bragging about how they made their fortunes in land speculation – by putting their cash to good use, planning their next Casino trip to Macau and passing judgement on online gaming and how its spoiling the youth.

“Would love to see Govt introduce 28 per cent GST and 20 per cent TCS on land purchases,” he added.

The GST Council in its 50th meeting on Tuesday decided to impose a 28 per cent tax on online gaming, horse racing and casino. “Tax will be applicable on the face value of the chips purchased in the case of casinos, on the full value of the bets placed with bookmaker/totalisator in the case of Horse Racing and on the full value of the bets placed in case of the Online Gaming,” the finance ministry said in a statement.