What is GST?
Why are you charging GST?
In the 50th GST Council meeting held on July 11, 2023, the GST Council recommended that 28% GST should be applicable on deposits made with the online gaming platforms. Based on the recommendation, the Government of India amended the Central Goods and Service Tax Act, 2017 and Integrated Goods and Service Tax Act, 2017, applicable with effect from 1 October 2023 and the rules made thereunder. As per this rule, GST at the rate of 28% will be levied on the users on every deposit he makes with an online gaming platform.
How much GST is applicable when I deposit money?
As per the new GST changes by the government, we are required to charge GST at the rate of 28% on every deposit made by a user in his Deposit Account. After we collect the GST amount, we remit it to the government.
Example: If you are paying INR 1000, your Deposit Account will get credited with INR 782 and the remaining amount of INR 218 will be deducted as GST on deposit and remitted to the GST authorities by us.
Where can I check the GST Invoice?
What happens if payment is canceled and money deducted from my account while making a deposit?
Is GST applicable on Bonus?
Do I have to pay GST every time I deposit?
Will I be informed about GST before making a deposit?
How to check the amount of GST charged after making a deposit?
Will the GST amount form a part of net winnings for the purpose of TDS?
For the calculation of net winnings for the purpose of TDS, the amount credited into your Deposit Account will be considered, which will exclude the amount paid towards GST