The government is unlikely to review or roll back the 28% GST that is imposed on all the online gaming, horse racing and casinos says a report by Business Today.
"There is no plan for a review. The decision was taken unanimously by the GST Council after much thought and deliberation”, an official told Business Today.
Online gaming firms and players have reportedly written to the Finance Ministry to reconsider the 28% GST, expressing concerns that it would adversely impact the growth of the sector, lead to job losses and increase costs for players.
Also Read: 50th GST Council Meet: Big blow to online gaming industry; here's what else gets cheaper & costlier
The Confederation of All India Traders (CAIT) also requested Prime Minister Narendra Modi to intervene, re-evaluate and revoke the decision of the GST council.
Also Read: 28% GST on online gaming: After Ashneer Grover, Anupam Mittal slams the move
The 28% tax on online gaming would come into effect after amendments to the GST Act are made, which are likely to be brought in the Monsoon session of the parliament.
The GST council levied a whopping 28% tax on online gaming irrespective of it being a game of skill or a game of chance. Industry stakeholders have called this move a 'catastrophic blow' to the industry.