Starting from the 1st of October 2023, a 28% Goods and Services Tax (GST) will be levied on all cash deposits made on gaming platforms.
This transformative policy shift is set to impact the dynamics of the online gaming sector in India.
Let’s understand how this policy will impact players and how MPL has emerged as the best online gaming platform, where you will remain unimpacted by this policy.
What is the New GST Policy?
- 28% Goods and Services Tax (GST) will be levied on all cash deposits
- GST will only be deducted at the time of deposit/adding cash to your account.
- GST will not impact the entry fee or the number of games played.
How does this work?
Let’s understand how the 28% GST will impact players:
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. This implies that the player can play real money games with only ₹78.12.
But that’s not the case for MPL. You get 100% of what you deposit in your MPL wallet.
Unlocking a Unique Proposition – Get 100% Real Cash on Deposit Only on MPL
Amidst this transformation, Mobile Premier League (MPL) has stepped up its game, offering an enticing proposition to the gaming community. At the core of MPL’s offering is an innovative 100% real cash on deposit policy. This means that if you deposit ₹100, you get 100% real cash on your deposit.
For instance, if you deposit ₹100 on the MPL app, ₹100 will be credited to your account as deposit cash.
MPL vs. Other Gaming Platforms
|For every ₹100 deposited
|GST Levied as per New Policy
|Amount Credited to Deposit Balance
|100% Real Cash on Deposit, No GST
|Bonus Cash, Coins, or In-Game Currency
Following the new GST policy, MPL emerges as a frontrunner among its competitors, offering a distinct advantage. While other online gaming platforms offer bonus cash, coins, or in-game currency to compensate for the 28% GST deduction on the deposit amount, MPL offers 100% Real Cash on Deposit.
Simply put, there will be no GST deduction on your deposit cash, and 100% of this deposit cash will be credited to your MPL account.
MPL is not offering any bonus cash, coins, or other visually appealing deals in place of the 28% GST deduction. ‘As part of MPL’s No GST offering – You get 100% playable cash of what you deposit.’
Impact of GST on Withdrawals:
In response to the new GST policy, MPL has reevaluated and revised the withdrawal limits for users. Withdrawals will now be limited to a single withdrawal per day, spanning a 24-hour period. This restriction is designed to streamline the process of withdrawals and accommodate the tax implications brought about by the GST policy. So, as you plan your gaming sessions, you should also strategize your withdrawals accordingly.
The withdrawal amount cap is based on the tier a user belongs to. The tier-based system allows for differentiated withdrawal limits, accommodating users with varying levels of engagement and gameplay. The table below depicts the withdrawal amount cap amount for users belonging to different tiers:
|Withdrawal Transaction Cap
|Withdrawal Amount Cap
As users adapt to these changes, understanding the withdrawal process and aligning it with their gaming strategies becomes an essential aspect of their interaction with the MPL app. By planning withdrawals effectively and adhering to the new withdrawal guidelines, users can continue to enjoy an engaging and rewarding gaming experience in the evolving gaming ecosystem.