28% GST On Online Gaming | Ashneer Grover Exclusive Interview With Anand Narasimhan On News18
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- Опубликовано: 11 июл 2023
- 28% GST On Online Gaming | Ashneer Grover Exclusive Interview With Anand Narasimhan On News18
Exclusive: "The industry in any case is paying 28% tax already," claims entrepreneur & investor Ashneer Grover while expressing disappointment over 28% tax on online gaming
"The next step is absolute death for the industry."
"There is no empathy towards the start-up space & the founders. We are not treated as genuine businessmen," claims Ashneer Grover, while expressing his views on 28% tax on online gaming firm.
The decision to impose 28 percent GST on online gaming, horse racing and more activities has come as a rude shock to the industry executives, who are clearly not sure how the sector is hoping to flourish despite such limitations.
#gstcouncilmeeting #onlinegaming #therightstand
n18oc_business
People are trying to trick their audience by calling it as gaming industry, whereas in reality it is gambling industry that has been hit by this law.
Abe Chutya it's already proved in supreme court that it's not gambling it's Game of skills, don't comment anything here without knowing anything stupid
Game of skill and game of chance
Let’s say what you say is correct but why two types of taxes on one industry? GST and TDS. There has to be some rational behind a law. You cannot blindly make a law. Other countries don’t charge taxes like this. Indian gaming industry surely will die with such high taxes. Who wants to just pay 28% GST first on betting. It’s not even winning or loosing yet. You pay GST first, winning or loosing doesn’t matter. It’s insane tax. Govt charge tax on winning amount is understandable but who wants to pay tax at first then play? On top of that gaming companies also pay taxes on their profit. There is no sense of 28% GST.
@@chintakgurjar8426 As gambling is illegal in India and since this industry had started gambling at such a large scale by taking advantage of some technical flaws in the law, they were brought in like by the govt as at the end of the day it’s gambling
Gambling laws made by Christian British from bible
Imposing 28% is actually a game played by Govt.
No it's to limit the gaming expenditure.
Spent money on different things which could improve your life.rather than wasting it in stupid things.
Pov:- you are rich
3 crores gamers will vote against BJP for this goonda tax ..28%on deposit and 28 % on withdrawals after winning. No where in world is this much tax. Make it 5% or face the heat ..you get zero votes from the gamers in coming election..
The tax is 28% on the inital corpus, not even on winnings or losings. Additionally you pay 30% tds on winning/losing
Cir can you clarify this clearly ..please
Summary:- the money same as 25% of your entry fee is your winnings if you win a "50% winning chance game.. "
For 100 rs played 28 rs goes as GST. That is 128 rs you are betting. If at all you win you get rs 200. Then 30% as TDS on 200 is 60. Left is 140. By investing 128 you get back only 60 rs.
@@KULKARNIVK-gb3wfIf you want to double your money, you have to play a "4 players match with only one winner"... Defeat other 3 players, and double your money..
Maybe stash it away in black money. Now I see black money holders are those who got tired of govt.
This man is on fire🔛🔥
Nhii drtaa ye sarkaar se bhi😅❤
@detectiveconan7747 Really?
@detectiveconan7747 no it's partial democracy okay u also know it brother so if now govt loose 24 then it will be democracy I just hope🤞
@@ayjaas7659 Pappu Bhakt spotted
@@ayjaas7659abe puncture putra. Konse democratic rights tumse chhin liye gaye hai. Ek do example de de please.
@@chintakgurjar8426what's up chaddhi putra..?😂
Completely agreed with ashneer
28% tax is stupidity.
Govt. Is desperate for taxes, thats the only reason
When a customer eats at a restaurant, there is a charge on the full value of the bill. Not on the profits/margin of the restaurant.
Similarly when a customer pays a certain value to gaming company, that value has to be taxed. Not on the commission of gaming company.
Not at all that’s the only reason!
99% impact is on to make someone devil before the election and to solve to become MASIHA!
Gambling apps should be ban.
@@vijitak798My friend, you eat some food there surely. Here there is no chance of winning always. Ultimately GSTwill be transferred to players.
@@KULKARNIVK-gb3wfThere also you eat or not bill generated pay it.
Why Government has to bother about your winning or lose and also be happy Government is not imposing cess.
This 28%GST just slab us so badly......
Ashneer Sir is right. I can understand because I am also a fantasy player.
Kuch aani jaani nahi hai bhai iss fantasy games mein, jo khila raha hai, bas wahi jeetTa hai(plus govt). Baaki sab haarte hai.
So you are on road
Sttebaaz
as a gaming founder , i support ashneer ,
Konsa game he Tera?
@@chiggagaming bana raha hu bhai...abhi development mai hai...
@@anandhunt1000ab ban gaya?
Good decision by Govt
andhbhakt
@@dr.reverse8285who
Good move…but 28% is too much…
@@gauravpant5902 28 nai bhai total 58 percent taxx he. Gst 28 and tds 30 percent.
When a customer eats at a restaurant, there is a charge on the full value of the bill. Not on the profits/margin of the restaurant.
Similarly when a customer pays a certain value to gaming company, that value has to be taxed. Not on the commission of gaming company.
Eating is consuming part. Not the earnings part. Okay?! 😶
Sanghi school of economics😅
It's like paying 100 rs for 72 rs food. And if you finish the food you pay extra 30% TDS.
@@swagatnag5184 so true, I don’t understand how this people are so educated lol
@@swagatnag5184 their analogy is always so vague, I’m so jealous of the schools these people go in 😂
No comparison with cigarettes. GST is passed on to customer in cigarettes but in online gaming GST is paid by operator NOT by player. So for example when Rs 100 is put per game, operator only gets 82 now and 72 in new scheme. Operator cannot survive. Result: Prize money will go down and therefore less players will play, so overall total industry size will shrink. Govt is getting greedy
I think that is good to distroy gambling gaming industry
Share market is also gambling then. Uspe b lagao gst
cry more!
Bilkul lgana chahiye
48% is needed
Sahi baat h yar
GST should be on Gaming.Truth is that CEO /owners and celebrity are benefitting more than employees. Governments is clear either you give a large chunk or stop this . Employees of gaming industry earns penny compariosn to owners . Government is benefitting too .
Best decision by Gov of India..love you Gst council
Aanpadddd andhubhakttt......
@@Jaimatadiiak anphad puncture chap
@@Jaimatadiiaknamazi chamcha spotted
Britishers wale kaam krri h govt....
Arey bhai atleast it will teach some discipline to the ones who are spending most their time in the same instead of using it only when it is required.
@@lovelycats99 then ban the social media apps too by logic. Govt should have given more thought to this action of theirs
@@funkyvibes77best decision by gov
But 30% TDS will be refunded by the govt if the gamer file ITR.
So there is another aspect in which govt want to increase the direct taxpayers this might be one of the reason also.
Logical. But instead of that TDS. Government should charge GST on that winning amount and charge (tax) gaming companies on their profit.
they will do illegal gambling ,Offshore apps will thrive
That's the thing the govt don't know how to save industry from going illegal and how to collect tax .They levied tax based on their political outcome and elections
Incredible questions and answers.
Sadly for him, a jolt for the company that he just started, that is the reason he is so riled up.
it wont effect him, he has a lot money already
@@dr.reverse8285 It will. It will hurt his reputation.
@@dr.reverse8285lots of money means more tax which he is complaining about
Exactly... He is asshol
@@sky301289 he is still relevant, wont hurt even a percent. Every time he shows up on any channel, he gets more relevant.
Over a long time out a profitable winning % in a table of 5 players is usually between 15-25% out of 100. Now think about winning when it is out of 50% 🤣🤣 Its pointless to play.
People should come in Stock Market.Were it is Regulated Entity.were one can compound his income by Learning Fundamentalanalysis,Technical analysis.Risk management
We are boycott #worldcup if govt not came down to back 👍
Yes afcourse bycott the world cup
ये कोई जनता का मुद्दा नहीं है लेकिन ये सट्टेबाजी तो बंद होनी चाहिए
Please join English tuitions
Great explanation 🔥🔥🔥
How stop out of india sites there are no tax
jab badhiya conversation chal raha ho, tab background music bajana zaruri he kya?
🤗🤗🤗
People now just see everything in terms of Money, Apart from the Cost beared by The Gamers, Can you think of the good impact that it creates on the youth for not entering this so called " GAMING INDUSTRY ". Out of 100 how many do you think become a top notch player such that they could earn enough to have a good life???
Its good step by Govt. To stop youth from getting addicted to These STUPID GAMES...
Youth has to go out and play to develop their body. Not before the internet. Future generations will go off.
this is the worst argument that we are employing 10k people so gov shouldn't interfare
Not 10k its Almost Lakhs People Directly or Indirectly
1. Developer, Engineer
2. Marketing People
3. Financial People Like CA, Accountant
4. Graphic Designer who design poster and all for ads
5. Video editing team and shooting spot staff for ads they also get job since these companies shot advertisement
6 . Infuncler specially on RUclips and Instagram paid for promotion it's kind job also
7. Content Write and specially who do blogging or write content on sportskeeda and 100 other websites
8. Lawyer because these need lawyer to legalities
9. Small Cricket League like TNPL, Like Punjab Premier League, Like Maharashtra Premier League if they sponser entire league that means all spot staff , Grounds mans Pitch cuter even Stadium bodies who maintain and take care of stadium get money
10. Cricket Player ...here not talking about Virat Kohli or big player domestic player .....if their league get sponsered like TNPL get sponsored by fantasy app than player also make money .....
11. BCCI make money
12. Jio cinema make money because these gaming industry pay for advertisement on Jio cinema what jio cinema do with that money ....they invest money in creating more content webseries in which actor and whole crew get job
13. Pro Kabbdi is growing in India who sponsered gaming apps how many player get job and spot staff and brodcaster crew got job ....if goverment ban app than that segment Complety vanished
14. Indian Super league (Football) who are the sponser of ISL Team just check and let me know these gaming company are sponser of most if ISL team if they get ban than would you think Football grow in India if football grow how many jobs provide it
One more thing if gaming company introduce football on their platform than viewership of football also increase because if people make team on fantasy app they learn about it and they watch it
15. Indian Hockey League Also include
Many more things
If these games ban audience have no interest in domestic league which results loss of lots of job and revenue
I agree its addictive and financial risk but goverment need to make regulation on it ....but if you kill industry than cricket satta will get operated illegal goverment get nothing
inti unemployment hai tho sahi hi keh rah hai
Perception concerns
The comparison between a stock market and a game is completely flawed as the stock market is completely under SEBI regulation.
then make a new regulatory body for gaming industry . isn't that simple?
@@armaan1610 the gaming industry isnt affected , the target is online gambling games where you pay money to earn more money like dream11 rummy slots etc
@@vitakulaa28% plus 30% tds will not affect gaming industry?
Not flawed, stocks are pumped and dumped every day... It is speculative
i play both skill games and stock market frm 4yrs.. i have lost so much in stock market. but win in skill games.
Mr Ashneer, this is a burn for you, cause you invested a lot of money into a industry that you think would give you money very fast. You yourself mentioned how this industry is least effort for most profits. You just have to create a platform, and do marketing, which can be done easily as you are on every podcast nowadays. You wanted to trick the youth and earn. If you are such a great entrepreneur, should have invested in something that benefited the youth. There are many industries with low GST or zero GST, why not think of them? But no, for you it is about earn fast money. Online gaming is turning into Online Gambling. The youth of the country is getting addicted to this, which propagates earning without any hard work. If it sticks to gaming, that would have been fine. But now its becoming a addiction. And as you quoted 15% of country has started doing this, which is even more dangerous. As the tax on any addictive activity is high, so is it on this. Coming and shouting on these platforms and saying that government is not empathic is not fair. Not every decision is economical.
There should be no GST on gaming if we already have TDS. If we have proper rules, people will play on Indian sites. We can have a system where a person is not allowed to deposit more than Rs 5-10 Lakhs total in the last 6 months. Indian Sites need to be supported as they give jobs to many. Some of my friends work for them to handle their websites. Don't let so many people lose jobs immediately.
It is right move ....28% GST category is for luxury and sin goods, because in an economy with income disparity, luxury and sin items will have high rate of taxation, this is in line with the inverted pyramid of indirect taxation...wherein now the lower income groups will desist consumption of these not essential while the at hte samr time top pyramid will sustain and Govt will also increase or maintain their revenue....The planners have obviously put though in such a decision and you can read papers on Economics and indirect taxations well published internationally
😊
😊
What about 30% tds is also impose earlier
correct...which is related to direct taxation principles.....If you win you get an INCOME for which every citizen is anyway liable to pay the corresponding level of Income Tax...the TDS is on Net winnings and is deducted at source towards the end of the financial year...seems to be fair enough..in accordance with taxation principles..
@@adornis0078I don’t know taxation principles but first 28% GST then 30% TDS. Gaming companies who make profit also pay taxes. Why multiple taxes on single event? Let’s assume one puts money in one game wins and then again puts that same money on second game. How this scenario plays with taxes in such situation? This will kill the industry. Govt will loose this income and people loose jobs.
Taxed on Agricultural Warlords too..
AGRI lords
At the start of the video the interviewer was roaring like a lion. Then Ashneer started speaking and by the end of the video the interviewer was purring like a cat who was put in his place.😂
He doesnt think Government as government!
if our goverment was a real govermnement we werent be such a poor country
This only impacts the Fantasy sports games and such. Not real games even if they are played in a ESports format.
Thumbs up to Ashneer👍
It is not fr getting tax, it is for reduction of use of such platforms!
ha bgai petrol par bhi isi k liye hai jisse aadmi paidal chale health achi ho..sarso k tael par isliye hai jisse aadmi ka cholestrol kum ho..
khane pine par isliye hai jisse motapa control ho sake..I love BJP❤❤❤❤
nah, gov. wants more tax revenues. it was the same reason why they are taxing debt funds at income tax rates. Plus, this is the reason why people are leaving india - they dont get anything much in return for paying the high taxes. Most of the countries in europe atleast offer health and other numerous benefits.
@@funkyvibes77 record GST collections, incrrased cess and exise duties still Govt is not able to provide for the pending pensions, filp the vacant railway positons and manage the inflation..iam a TAX payer that also of the highest bracket..i just wonder what do i get in return.
@@funkyvibes77health!! Are you sure European and American have good healthcare.... Suggest you to do some research
@@heal4066 i never said america, mate. i think you should do some research before commenting. Here are some countries in europe that have single-payer healthcare system (healthcare provided by govt.) - UK, sweden, norway, denmark, finland, iceland, italy, spain, portugal, greece, and others. Additionally, since the govt provides the healthcare benefits to all the citizens, the private health insurer companies provide insurances at very cheap rates, so as to stay competitive with the health insurance provided by the gov.
Good, impose even more tax on these gambling apps.
Not good
We want 48 % tax on these gambling apps
@@ZicJohn no 68%
@@ZicJohn lauda miega agar itna taax hoga to koi nahi khellega
Govt. Hmm aaj kya kre aaj kya kre unemployment, inflation, scams .. no … lets kill a industry which we don’t understand and we don’t know supreme court of india
Yes..govt does not want tax but close these apps...and it good if apps are gambling apps
But the point is ki they aren't, poker is a skill based Esport.... And thousand of players are playing this for their living, it's their profession.... It's all politics the govt. doing...
Stock market trading also addictive...kayi log barbaad ho jate...lets double the tax on it...wat u say
they will do illegal gambling ,Offshore apps will thrive
@@vineetrathore3723bhakt ko rational bate samjh nahi ati Bhai.. this govt is getting on nerve
skill games r mind games like chess.
Government has Very very poor business policy.. they had finished Textile business, Diamond business. They're only pushing stock market only..
Basically Ashneer is right but the point is government wants to put more tax on companies so that they can do disinvestment and come up with IPO on stock market. Disinvestment happens bec of 2 reasons either the company is going in expansion or the company is burdened with debt interest/ taxes.
In stock also same thing
Tata by by fantasy game if 28 % GST imposed
He is fire . Real inspiration and idol , the way he expresses his view and opinion . Clear and to the point . His thoughts and views can be a case study for the business schools.
Extremely logical!👍
Apke rate badhane se tax collection nahi badh jata! Industry bhi to bachni chahiye!
Jo tax de rahe hai, usse aur le lo!
Then ban share market trading also..ban wine ban tobacco. ..Govt. Lost their mortality or they dont have any other idea to revenue tax from any other source
they did same with crypto which is now one of the global leading industries...even after Supreme Court made it legal.
Well in crypto you pay taxes on your gain and not on investment. It’s pointless to compare these two.
Extremely bad decision by government
People loosing minds addicted to gaming, with Govt orders, from now on rich people can loose minds.
RUclipsrs earning more than anybody these days, why no 28% Gst on youtubes money? 🤔
Even contesting the elections should be included in GST I guess it is addictive and multi generational activity in the name of service.
I have started loosing faith in this govt.
I personally hate gaming industry. Infact I would suggest ban gaming industry especially this dream 11 and mycircle nonsensical apps. But I enjoyed Ashneers arguments for amusement purpose.
Govt as well ban the gambling itself.
aahneer was right
I m totally supporting ashneer Grover it’s totally not fair by putting 28% gst
The person who / those have taken the decision must be grilled in front of committee like US congress to justify their logical thinking!
Ashneer is great.But my one question ,what benifit this gaming do to the customer? Is it that 18Cr people interested in cricket and uses dream11.
The fact is it just one easy money making business for founder without any real contribution.
That is why there are so many noise.
🔥🔥🔥🔥🔥🔥🔥
Government needs to stop interfering in startups rather completely support in growing. These regulations will badly impact startup industries.
When a customer eats at a restaurant, there is a charge on the full value of the bill. Not on the profits/margin of the restaurant.
Similarly when a customer pays a certain value to gaming company, that value has to be taxed. Not on the commission of gaming company.
The how authoritarian governments work, no discussion no debate, direct action. The same thing happened during Demonetization and Farm Laws, they happened without discussion/debate. Porn Industry is also banned without discussion, people are still watching it. Do you really think that these age old politicians would understand the Gaming Industry, or things like LGBTQ rights. There's a huge generation gap. India is a country of youth with avg age 28, young educated people should go into politics.
Lallulal it is not A govt it is GST council... consisting of ALL states and ALL parties.. what TN did, looks its more of a opposition voice that dominated this decision...
@@shaktiashishus It's not about BJP, I'm saying it for all elected representatives who were there in GST Council. All are same.
All stakeholders are met. Actually the big gaming companies are asked to give their thoughts.
Lol.... Whts happening in all countries in the name of lgbtq rights we are aware... So keep that shit out of India
Oji it's on gaming companies, GST council ke diye gaye directive ko dhyan se padho ji. There is no major Indian gaming company in India except Ludo. Gamers paani ki tarah Paisa bahate hain ji, so I don't think it will be a huge problem.
Nonsense of the Govt being called out.
JE point was brilliant 👍
He himself is saying that government will make 28 percent of zero i.e. government revune will be totally lost..this shows that modi govt has taken a very big decision which is purely unselfish on part of the govt because govt knew they will lose revenue still they did it.
Online gaming is a social waste of time. People spend the full day playing games and it destroys lives
Illegal betting will start
what type of skill is this to choose a horse that will win
on 28 per Gst online game will not work
Isne Govt ko ungli Kiya tha on taxation. Shayad FM ne iski baat sunli
Super decision in government 👍
Blockchain left for Singapore, Dubai. These guys will also leave. The Indian government are like indian parents, humko sab aaata hai, baki kisiko kuch nahi aata. Startups nahi chalni wali iss desh mein. Anyways the best minds leave and those who are left behind are sucked up. Koi kuch v innovative karna chahe unki ye Indian government marke rakhti hai. Blockchain industry was a space where Indians and Indian startups were starting to lead. Usko v thaapp kar diya. Vishwa Guru nahi banega re baba
👌
Ashneer 😎😎😎
Why anchor is speaking in this tone
He is BJP agent
You all can protest against this move just like farmers did and then govt will take back decision
The government did the right thing by imposing taxes on these fantasy games. People had become addicted to these games in their pursuit of becoming rich.
From 100% only 1% make money in this Gambling apps.And also from that 1% many people losses money then they will be profitable.
Middle class logo ko target hogya, ghar ka paisa khrcha hogya, gold, stock market, dahi, milk , food , fuel , automobile , health eveywhere they targeted and thieft people. Now gaming !!!!! India soon become 5 trillion by selling 100rs per cup of coffee!!!
Bhai CA logo ko pucho na isko kya puch rhe ho yeh idhar gambling app banake baitha hai
I like Ashneer. He is very practical. But he is on the wrong side of this. Betting/Speculative Online Gaming is not what we want more of in our society especially in India where unemployment is so widespread.
You were employing 10k people but with 10% increase in GST government is killing the industry? That doesn't make sense,
bro its not 10 % its 28 % , we are already paying 30 % tds to the govt and now additional 28 % destroys the industry , if a person plays a 100 rupee game then they earn only 11 rupees if they win and lose all 100 if they lose so no one would even play online games from now on .
Trust me 10k employment is not a small number , you will realise this when these skilled employess move to different tech companies creating unemployment for garduates
i am also a research analyst in stock market and by data from kamath ceo of zerodha 99.8% people loose money in stock market through trading should you ban that as well then and secondly there are games who are pure luck and there are games where you need skills so there should difference between them like poker is game of skill and if you think it is game of luck you are going to loose lot of money so government should on luck based games only
@@FitnessWithRakhi do not call it online games dude , its online casinos
@@vitakulaabhakt tell your beloved modi ji to ban alcohol and cigarette first... Secondly SC says gaming isn't gambling..
Don't show dumbness in RUclips too.
@@vitakulaaya games are like pubg, freefire, gta etc.
Desh chodd kr bhago bhot scope h 😂😂😂 kuch accha nii hone denge ye log
GST irregularities will now come under ED 😢 so if u do lil lafda by not paying GST, ED notice, property attachment etc will happen... Get ready every GST collecting businessman😅
Every Decision Taken CG is Worst.
Highway robbery at its finest.
The best thing gov did. I know people who lost crores
anchor ka vibe match nhi hora faltu character cntn krra frnt of ashneer bhai
FAntasy sports must have 100 percent tax normal games should be 18 %.
Very good decision
Ashneer ka maths sunke host is destroyed 😂💯
Sir aap jo business krtey hunn wo industry hi dobne lagti hai.
Op ashneer Bhai
Are ban nhee kiya yahee bahut hai.
Rr kar rha hai
Gaming industry just killed other product makers to give ad in IPL, that is not good for any industry. Disagree with Ashneer
He's just salty because he has probably invested lots of money in these 'gaming' apps 😂
You bhakts are really retard
Iske lag gaye
no he is still very much he doesnt care
I had lost 5000 in dream 11. And yes I was same panicked as ASHNEER AFTER 28% 😂😂
Its an issue! Fantasy apps just want to earn money but the reality is people are losing money and depressed, addictive and doing suicide.
Ashneer is correct
Hum log tax pay karne ke bad jo saving he usme se invest karte he to 28% gst 30 % tds kyu..boycott all fantasy for atleat 1 month ye log badi fish 🐟 ko Fasane k chakkar me choti fish ki vat laga Rahe he..laga na he to Lagaye uspe jo lakho deposit karte he lakho withdrawal karte he