DGGI will shake hands with foreign govts to crack whip on offshore gambling firms

Vaishnaw emphasized that the central government takes prompt action whenever violations come to its notice, ensuring all measures align with the Constitutional framework

This move will curb tax evasion in the online ‘gaming’ sector in India and will also help block websites of such notorious illegal offshore entities.

Online gaming industry faces potential 50 percent revenue drop after 6 months of 28 percent GST implementation

In addition to the basic rate of 30 percent, a health and education cess at the rate of 4 percent of the amount of tax is levied. Thus the effective tax rate on lottery winnings comes up to 31.2 percent. (Image sourced via Unsplash)

To weather the storm of a significant revenue drop in the financials for the last six months, among other cost cutting measures, online gaming companies are slashing marketing expenses by over half.