Earlier this year, lawmakers in India pushed forward a significant change in the taxation for online gambling. At the time, the regulatory body in charge of recommendations to the implementation of the Goods and Services Tax (GST), the Goods and Service Tax Council, greenlighted a proposal for the introduction of a 28% tax applicable for gambling activities, including online gambling, casinos and horseracing. The changes effectively increased the tax rate for all gambling, as well as gaming activities such as fantasy sports to 28%.
Previously, the tax rate applicable for gaming activities like fantasy sports was 18%. However, with the recent change, gaming activities are taxed the same way as gambling activities. To make matters worse, t…
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