“RIP Real gaming industry,” Crickpe founder Ashneer Grover slams Indian Government for imposing heavy taxes on Fantasy Gaming

Indian Government has announced that it will collect 20 percent tax on full face value of consideration paid on online gaming platforms.

“RIP Real gaming industry,” Crickpe founder Ashneer Grover slams Indian Government for imposing heavy taxes on Fantasy Gaming

MS Dhoni, Ashneer Grover (Images via Insidesport, LinkedIn)

Indian businessman Ashneer Grover who recently entered the online gaming industry as he launched Crickpe in March this year was left furious after the Indian Government announced that it will collect a 28 pc tax on the full value of the consideration paid on online gaming platforms. The Finance Ministry, after the conclusion of the 50th Goods and Service Tax (GST) Council meeting, announced the change in tax rates. 

The ministry said that the decision was taken after a lot of consideration and it never intends to end any industry. “Our agenda is not to end any industry… all types of businesses have to function… there was discussion on the moral question that on one front, you do not want to end an industry. But that does not mean that you give more incentives to them than essential goods,” said Nirmala Sitharaman (via The Indian Express). 

YouTube video

However, Grover does not find the move justified as he hits back at the government for “murdering” the online gaming industry. He explained how this move from the government would eventually kill the industry. 

“RIP – Real money gaming industry in India. If the govt is thinking people will put in ₹100 to play on ₹72 pot entry (28% Gross GST); and if they win ₹54 (after platform fees)- they will pay 30% TDS on that – for which they will get a free swimming pool in their living room come to the first monsoon – not happening!” tweeted Grover on Tuesday. “It was good fun being part of the fantasy gaming industry – which stands murdered now. $10 Bn down the drain in this monsoon.” 

Also Read: WATCH: “Didn’t bring my sandpaper,” Rishi Sunak and Anthony Albanese engage in hilarious banter to take Ashes rivalry to a new level

Ashneer Grover suggests startup founders join politics to get representation

ashneer grover
Ashneer Grover (Image via Hindustan Times)

The Indian businessman then called for startup founders to enter politics so that they have representation. “Time for startup Founders to enter politics and be represented – or this is going to be spate industry after industry,” he added. 

Ashneer Grover also took a dig at the section of citizens defending this move from the government. The businessman then demanded a similar tax rate on land purchasing. 

In case you missed it!