Online gaming: 1 lakh jobs in limbo after Supreme Court ruling

The Supreme Court’s decision to uphold a 28% retrospective GST on online gaming has severely impacted the industry, risking massive job losses and forcing companies to restructure. The PROG Act has already led to significant layoffs, and firms must innovate to survive. Excessive regulation may drive users to unregulated platforms, raising policy concerns. Shareen Gupta, Partner, JSA Advocates and Solicitors, said the surprising outcome of the ruling for the gaming industry is the retrospective application of valuation provisions, affirming the levy of GST since its inception, on the value of the monies staked by the players. The ruling will have an impact on the entire online gaming industry. Read more