impose a tax rate of 28 per cent<\/a>\u00a0on the full face value amount for online gaming, casinos and horse racing betting. The gaming sector had expressed concerns about the tax’s impact.<\/p>\n\n\n\nChandrasekhar said he intends to advocate for reconsideration, highlighting the nascent nature of the online gaming regulatory framework and its evolution since January 2023.<\/p>\n\n\n\n
At the beginning of Tuesday’s trading, Delta Corp shares rose by over 4 per cent. They had fallen by 23 per cent after the GST Council’s announcement last week. While many online gaming firms welcomed the 28 per cent rate, startups raised concerns that the decision might lead to increases in net taxes of up to 1,000 per cent. some fear that an increase in taxes could encourage players to choose illegal gambling websites.<\/p>\n","protected":false},"excerpt":{"rendered":"
Rajeev Chandrasekhar, India’s minister of state for electronics and IT, says he will ask the GST Council to rethink its decision.<\/p>\n","protected":false},"author":176,"featured_media":16885,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"India's Minister of State for Electronics and IT, Rajeev Chandrasekhar, intends to petition the GST Council to reconsider its 28% tax imposition on the full face value for online gaming, casinos, and horse racing. This initiative follows significant industry concerns, particularly from startups, regarding the tax's potential to escalate net taxes by up to 1,000% and potentially divert players to unregulated platforms. The market reacted with Delta Corp shares experiencing notable volatility, reflecting investor apprehension and subsequent partial recovery.","focusai_entities":"Rajeev Chandrasekhar, GST Council, Delta Corp","focusai_location":"India","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.9), operator_casino (0.98), investor_analyst (0.98), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GST Council Reconsideration Strategy","query":"What specific economic impact analyses and industry stakeholder feedback will Minister Chandrasekhar leverage to advocate for a revised tax structure to the GST Council, and what is the projected timeline for this reconsideration process?"},{"label":"Operator Financial Modeling","query":"Beyond Delta Corp, how are other publicly traded and private iGaming operators in India modeling the financial implications of the 28% full face value tax versus a potential revised structure on their NGR, EBITDA, and player lifetime value projections?"}],"footnotes":""},"categories":[163,16334],"tags":[23911],"class_list":["post-777007422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-asia-news","tag-gambling-regulation"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777007422"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007422\/revisions"}],"predecessor-version":[{"id":777007430,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007422\/revisions\/777007430"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16885"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777007422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777007422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777007422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}