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Following the GST council's decision, the founder of coinCRED highlighted GRR rates. A 28% Goods and Services Tax (GST) has been imposed on gaming platforms by the Indian government, which has caused substantial repercussions for the Web3.0 and cryptocurrency industries. This was the 50th GST council meeting. Decided, 28% GST rate has been levied on online gaming, horse racing and casinos which affects online gaming companies. GGR rate will be a biggest challenge for the progress of the online gaming industry. The dispute revolves around whether platform owners should pay tax on the prize pool money.
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