Taxing the online gaming industry on par with gambling will stifle growth: Winzo
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The Indian gaming ecosystem is expected to have 10 unicorns and 5 decacorns in the next five years. A high tax on the entire online gaming industry at par with gambling will stifle growth.
GST Council has deferred its decision on a 28% tax on casinos, online gaming, horse racing, and lottery pending more consultations with stakeholders. Winzo believes India will have 10 unicorns and 5 decacorns in the next five years. India contributes to nearly 17% of global mobile game downloads. The country is all set to establish itself as the gaming superpower of the world. There are over 900 ventures in India.
