Revenue Secretary Sanjay Malhotra on Wednesday said the online gaming industry is “collecting very less tax” and the impact of the uniform 28 per cent rate of Goods and Services Tax (GST) on the same “needs to be seen” as it will depend on the price elasticity of demand of the sector. In an interview with Aanchal Magazine, Malhotra said the clarification on GST rate for online gaming, horse racing and casinos should help bring clarity even for the ongoing cases. Edited excerpts:
Q: The online gaming industry is saying that the uniform 28 per cent GST will kill many of the startups in the sector; job losses will happen in this industry. How do you see it?
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