Q. What is GST ?
GST is an Indirect Tax which needs to be charged from end user’s w.r.t Supply of Goods or Services by the Supplier
Q. Why is GST been charged on Add cash ?
As per GST law, effective from 1st October’23, GST @28% is applicable on any amount deposited by user’s in any gaming platform and hence MPL need to charge GST @28% on the amount deposited by user’s through normal banking channels.
Q. My GST was credited as cashback, will I have pay it directly to the government ?
No, MPL will be directly remmiting the GST amount to the goverment on deposit done by you in our platform
Q. How much GST will be charged ?
GST @28% is required to charged from user’s at the time of deposit.
Q. How is GST calculated ?
For instance, a player deposits ₹100 on an online gaming platform.That player will receive only ₹78.12 in their account after a 28% GST deduction of ₹21.88. Further a cashback of Rs 21.88 will be instansly credited to his deposit wallet which is freely usable in the platform.
Q. What will be the proof of GST submission to government by MPL ?
During deposit (Add Cash), the platform will automatically calculate the GST amount. This amount will be submitted paid to the government. As a proof, a GST invoice will be generated and provided to all players. This will be visible and can be downloaded from the Add Cash success screen and the Wallet section.
Q. Who is charging this GST ?
The government is charging GST at the rate of 28% on every deposit (Add Cash). MPL plays no role in taxes applied by the government. MPL is just collecting this on behalf of Goverment and remitting it back to goverment.
Q. When will the new GST rate be effective ?
The new GST rate of 28% will be effective from 1st October 2023.
Q. Will I have to pay GST on my past transactions as well (made before 1st October) ?
No, the new GST law is applicable from 1st October’23 onwards.