- July 29, 2023
Slowly the view is emerging from the online gaming industry that big and established online gaming companies may survive the new higher slab of goods and services tax. Companies with a large gamer base such as login Lotus Book247 may survive the new higher taxation burden. They may also not pass the full burden to their dedicated gamers.
The large consumer base, dedicated professional gamers and comparatively higher revenue share may come together to help them. There is no significant impact on login as gamers are login for games with stakes as well.
All online gaming companies are awaiting the full details of the new tax regime before focusing on the next move. The online companies operating different sites for virtual games, fantasy sports and real money games are considering their positions in light of the new taxation regime. The companies want the government to put forth a set of FAQs as it put forth for tax collected at source for cryptocurrencies. The government first has to make amendments to the current goods and services law to include online gaming companies under its ambit as per the new taxation policy.
Online companies with a larger share of the online gaming market may also reduce the burden on gamers. The taxation is on the face value of the bid of each gamer. The company also has to pay the tax on platform fees. The company may compensate a gamer if it feels that it has the revenue base to do so. The gamer with login lotus book247 may get huge incentives or a handsome bonus on first-time entry. This may help the gamer to reduce the amount she has to spend on entry to gaming the platform.
However, in the next few days and weeks, things are going to settle in for both gaming companies and gamers. It will be interesting to see gamer activities on large and established platforms like login lotus book247 as any change from previous numbers will indicate the future direction of the gaming industry in the country. The fate of several gaming companies hangs in balance.
