Gaming platform Mobile Premier League will lay off 350 employees as it takes steps to “survive” 28% GST imposed on online gaming companies, according to an internal memo seen by Reuters on Tuesday.
Last week, Union Finance Minister Nirmala Sitharaman said the decision will be reviewed after 6 months of its implementation or April 2024 by the GST Council to see if any change in rule is required.
The GST Council had at its meeting last month decided to levy a 28% GST on full face value of bets placed.
