As online gaming companies are devising ingenious ways to compensate their customers for goods and service tax (GST) deductions on their deposits, industry executives on Wednesday said the move will force smaller firms to shut down and increase barriers for new entrants in the sector – leading to a significant consolidation in the online gaming space.
The Indian Express earlier reported that as the industry deals with the fallout of the new GST regime, online gaming companies have come up with a new idea to avoid losing customers – by absorbing the GST deduction and compensating users for it for at least the next two to three years.
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