Even EdTech companies are finding it difficult to grow while gambling companies are tripling their revenue!
And the best part, it is profitable with โน100 crore+ profit
Online gaming companies indulge in betting and gambling, taxable at 28% GST: Indian Government.
2 replies10 likes
Jaswanth Jegan
Founder-Hexpertify.c... โข 10m
Any Idea on why online gambling has 28% GST? Those sectors are being killed in the name of taxes.Would You do a startup in such sectors with higher taxes?
9 replies3 likes
Aditya Sahu
Big thinking always ... โข 3m
carbonated drinks pe gst hai 40% 28% gst and 12% cess and isme 28% ko 35% karne ka soch rhi hai government mai ek startup start karne ka soch raha tha drinks me jo ye tha ki mai mocktail ki 20 rs ki bottle per consumers ko dena ka soch raha tha lekin
If this thing happens then middle class get so much advantages ๐คฏ๐คฏ
Example - Calculation (For Petrol)
Base Price: โน50 per liter
Dealer Commission: โน3 per liter
GST (28%): On base price + dealer commission, i.e., 28% of (โน50 + โน3) = โน14.84Total P
What if there was 0% GST in India?๐ค
But first, what is GST?๐ถ
It was introduced in 2017. It replaced taxes and aimed at creating a single national market.
GST rates vary from 0% to 28%, depending on the product or service.
Taxes on IPL tournaments: ZERO %
Taxes on Research & Development: 18 %
Tax on IPL tickets for common people 18% + GST
28% + Entertainment Tax
Shows the messed-up priorities in this country !
If I start a gambling application( which is based on game of skill ) what types of licence I need and gst & tds between client and Admin ammont distribution can anyone explain
8 replies3 likes
mg
News & updates โข 18d
Taxpayer earns โน1 โ Govt takes 31.2%.
He buys a product โ Add 5 to 28% GST.
Spends on fuel โ 50% tax.
Saves money โ Taxed again.
But no, heโs not oppressed.
6 replies21 likes
gray man
I'm just a normal gu... โข 26d
The Finance Ministry has dismissed reports suggesting that the government is considering imposing Goods and Services Tax (GST) on UPI transactions exceeding INR 2,000.
In an official statement, the ministry clarified, โThe claims that the government
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0 replies19 likes
Kolkata Index
โข
West Bengal Tourism โข 5m
BIG NEWS!!!
STATE GOVERNMENT has submitted a proposal for New City.
Central Government's 15th Finance Commission will fund a total of โน8000 crores to 8 cities.
28 proposals have been received from 23 States
And West Bengal has submitted the name- B