NEW DELHI (Reuters) -India's government on Tuesday said it would impose a 28% tax on funds that online gaming companies collect from their customers, in a blow to the $1.5 billion industry that has surged in popularity and attracted foreign investment. Finance Minister Nirmala Sitharaman said the decision to impose tax on the total amounts gaming companies collect was taken after consultation with states, and the intent was not to hurt the industry. Roland Landers, CEO of The All India Gaming Federation, said the decision was "unconstitutional (and) irrational".
The All India Gaming Federation (AIGF), which represents companies like Nazara, GamesKraft, Zupee and Winzo, said the decision by the council is unconstitutional, irrational, and egregious.
NEW DELHI: India's government on Tuesday (Jul 11) said it would impose a 28 per cent tax on funds that online gaming companies collect from their customers, in a setback to the US$1.5 billion industry, which could lead to higher ticket prices. Gaming apps are often endorsed by sporting heroes in India, whe