Starting from 1st October, 2023, according to the newly amended GST laws, a 28% GST will be applicable on all your cash deposits.
For Example, if you deposit ₹100 on Magic Land
Player | Amount |
---|---|
Total add cash amount | ₹100 |
Total deposit amount | ₹78.12 |
GST applicable | |
Total amount added to your account | ₹100 |
"No GST deductions will be made from your deposit amount. Magic Land has chosen to shoulder the burden of GST for our players, so we will cover the GST on your behalf."
"Please note that a 28% GST applies to each deposit you make."
Under the newly amended GST law, GST is only applicable to your deposits. You can withdraw your winnings without any deductions.