The Govt. of India has amended GST laws to levy 28% GST on every deposit on all online money gaming platforms, effective 1st October, 2023.
For example:
You deposit amount - Rs. 100
GST applicable - 28% (Rs. 28)
Amount Charged - Rs. 128
(This is applicable for all online gaming platforms)
Why are you charging GST?
In the 50th GST Council meeting held on July 11, 2023, the GST Council recommended that 28% GST should be applicable on deposits made with the online gaming platforms. Based on the recommendation, the Government of India amended the Central Goods and Service Tax Act, 2017 and Integrated Goods and Service Tax Act, 2017, applicable with effect from 1 October 2023 and the rules made thereunder. As per this rule, GST at the rate of 28% will be levied on the users on every deposit he makes with an online gaming platform.
Do I have to pay GST every time I deposit?
As per the new GST law, 28% GST will be charged on every deposit.
How to check the GST Invoice?
As soon as you deposit money into your A1PGames wallet, GST Invoice will be available to download.
What happens if payment is canceled and money deducted from my account while making a deposit?
If payment was not successful, and in case any amount got deducted from your account including the GST, will be fully refunded in 3 to 4 working days - as it requires re-conciliation.