Fantok Suspends Operations in Response to 28% GST Rule on Online Real-Money Games

  • Fantok, a real money gaming app, temporarily suspends operations due to a 28% Goods and Services Tax (GST) imposed on online real-money games.
  • The high tax, alongside other regulatory challenges, increases the operational burden for the company, causing it to consider strategic pivots.
  • The GST Council’s decision has already stirred the gaming community, leading other companies to lay off employees and halt operations.
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