Layoffs and shutdowns as GST chars real-money gaming companies The move to impose 28% goods and services tax on online gaming at full face value has started shaking up the real money gaming sector even before its implementation, with layoffs, shutdowns and funding troubles

Venture capital firms have also become reluctant to invest in real money gaming companies, as the sector is now seen as being less attractive due to the high tax rates.

GST Council has defended its decision, arguing that it is necessary to bring the real money gaming industry in line with other forms of gambling, which are also subject to a 28% GST. However, the industry has argued that the GST is too high and will stifle innovation and growth

It remains to be seen how the real money gaming industry in India will fare in the long term under the 28% GST. However, the short-term impact has been negative, with layoffs, shutdowns and funding troubles becoming commonplace.