28% GST on Fantasy Apps: Shocking Breakdown
60sThis tax shock tells fantasy players their ₹100 immediately becomes ₹72, making it a highly shareable money lesson.
▶ Play ClipAI Summary
This video critiques the economics of fantasy cricket apps in India after the new 28% GST on online gaming, showing how taxes and TDS erode winnings — then pivots into a promotional pitch for an alternative betting platform called Mega Padi, complete with bonus codes and Telegram guidance.
Chapters
[00:02]
28% GST on fantasy gaming deposits
In July 2023, the 50th GST Council meeting decided to impose 28% GST on the full deposited amount in online gaming, replacing the earlier 18% tax on platform/gross revenue. A ₹100 deposit now leaves only ₹72 for playing.
[02:50]
Withdrawal losses: 15% platform fee + 30% TDS
If your ₹72 stake doubles to ₹144, the platform deducts 15% (₹21.60), leaving ₹122.40. Then a 30% TDS is applied on withdrawal, leaving just ₹85.68 — a net loss even after winning. TDS is deducted regardless of income tax slab.
[02:50]
Betting sites offered as a 'solution'
The narrator argues users should skip fantasy team building and instead bet on match outcomes like winner, toss winner, or runs overs on 'proper' online betting websites, claiming this avoids the GST and TDS trap.
[05:37]
Promotion of Mega Padi and Telegram channel
The video claims thousands of members on Telegram receive step-by-step analysis and free predictions, and points to a registration link in the description for the betting platform Mega Padi.
[05:53]
Registration process and FD Bonus promo code
Viewers are told to click the Mega Padi registration link, register using phone number and OTP, and enter the promo code 'FD Bonus' to get a 100% bonus on the first deposit and every Friday deposit.
[06:37]
Claims of no TDS and full match coverage
The promoted platform reportedly deducts no 30% TDS and no platform fee, offers betting on cricket, football, tennis, boxing, and directs users to a Telegram channel for free guidance and predictions.
Despite starting as a factual explanation of GST and TDS on fantasy cricket apps, the video ultimately works as a lead-generation ad for an online betting platform, offering a 'solution' that is itself risky and promotional.
Mentioned in this Video
Tutorial Checklist
Study Flashcards (6)
What GST rate was imposed on online gaming by the GST Council in July 2023?
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What GST rate was imposed on online gaming by the GST Council in July 2023?
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28% on the full amount, replacing the earlier 18% on platform/gross revenue.
00:02
If you deposit ₹100 on a fantasy app after the 28% GST, how much remains for playing?
easy
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If you deposit ₹100 on a fantasy app after the 28% GST, how much remains for playing?
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₹72.
00:02
From a ₹144 winning amount, what are the two deductions before you get cash?
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From a ₹144 winning amount, what are the two deductions before you get cash?
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15% platform deduction and 30% TDS, leaving ₹85.68.
02:50
Is the 30% TDS on fantasy cricket winnings dependent on your income tax slab?
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Is the 30% TDS on fantasy cricket winnings dependent on your income tax slab?
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No, it is deducted regardless of tax slab.
02:50
What promo code gives a 100% bonus on first and Friday deposits on the promoted site?
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What promo code gives a 100% bonus on first and Friday deposits on the promoted site?
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FD Bonus.
06:20
What is the net amount received when withdrawing ₹122.40 after platform deduction?
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What is the net amount received when withdrawing ₹122.40 after platform deduction?
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₹85.68 after 30% TDS is applied.
02:50
💡 Key Takeaways
📊
28% GST on gaming deposits
A single tax change slashes a deposit by over a quarter before play, fundamentally changing the economics of fantasy apps.
00:02
📊
Even winning money loses to fees and TDS
A doubling of funds still results in a net loss (₹85.68 from ₹100), demonstrating the stacked deductions.
02:50
💡
TDS applies regardless of income slab
Even low-income users cannot escape the 30% withholding on withdrawals, a crucial tax detail.
02:50
🔧
Promoted platform's registration and bonus
The video pivots to instructing users on registering with 'FD Bonus' for a 100% match bonus, turning the analysis into an ad.
05:53Full Transcript
[00:02] Welcome friends, welcome to another brand new video. If you dream of earning 2 crores by making a team of ₹25 on fantasy cricket apps like dream11, me circle 11 or any other app, then there is a big bad news for all of you and its solution is also in this video. So, do watch this video till further notice and if possible, please like it now. Let's start. In the month of July 2023, in the 50th meeting of the GST Council of India, it has been decided to impose 28% GST tax on online gaming platforms. Earlier, there was a tax of 18%, that too only on the platform or on gross revenue, and now there will be a tax of 28%, that too on the full amount. If you do not understand, suppose you deposited ₹100 to make these, can you make a team of ₹100? The answer is absolutely not, because as soon as you deposit ₹100, GST of 28% will be deducted. So, how many children will you have? 72
[02:50] Rupees only Well, if you want, you can look around you, has anyone earned ₹2 crores by forming a team of ₹25 sitting at home, which you know, everyone dreams of, but the reality is that profit is far away, people lose lakhs of rupees to cover their lost money, let's still assume that you play with your mind and somehow double your lost money, can you withdraw your winning money, the answer is absolutely not, 144 rupees which you have earned with your mind and luck, when you go to withdraw your money, 15% will be deducted from it, if it is on the platform then your amount will be 122 rupees 40 paise, then after withdrawing, you will have to pay tax on it, TDS of 30%, so your net available amount which will come in your hand will be 8568 paise and this TDS of 30% which is being deducted is irrespective of your ex slab, that is, no matter how poor you are, the government will definitely collect money from you. If you invest your hard earned ₹100 in your team after using your brain and luck, even if your money doubles, how much are you getting? You are still in loss. Even after doubling your money, you have to withdraw your money. This is called taking the flying arrow after yourself. So let's see the solution for this. If you have to bat, then what is the problem with any proper online betting website. Suppose there is a cricket match between India and Australia where you feel that India has a high chance of winning, then bet on the Indian team and after the Indian team wins, your money will double. Similarly, you can also earn money by predicting the match winner, toss winner, run over, etc. Why are you making a team of ₹25 unnecessarily and putting your property at stake in the greed of 2 crores? There are hundreds of channels on Facebook, Telegram, WhatsApp which claim that they have fixed schemes, fixed reports about which player will perform well in today's match. What do they say to you people?
[05:37] also do it personally and our thousands of members who are connected to our Telegram also hold online meetings here. If you need reference proof or feedback, friends, you
[05:53] registration link, I will put it in the description box below this video. As soon as you click on the Mega Padi registration link below this video, you will reach their registration page. Here
[06:07] you simply have to register by entering your phone number and OTP. If you enter the promo code FD Bonus at the time of registration, then here you will
[06:20] here you will get a 100% bonus on your first deposit and every Friday you deposit you will also get a 100% bonus, that is, if you deposit a thousand rupees, then you will get another ₹1000 free bonus. Here neither 30%
[06:37] TDS is being deducted nor any platform, on the contrary, you are getting a 100% bonus on the amount you deposit and for betting For this, all the matches of cricket, football, tennis, boxing are available here for you people and if you are new in this field and you need guidance, then you can definitely join our Telegram channel, the link of which I will put in the description box below this video. In our channel, along with guidance to our members, we also provide step by step analysis and free predictions of upcoming matches, so Odia join us and go to our Telegram channel once and check how many thousands of people are earning profit by staying under our guidance for free. Before joining, please like this video, we will meet in the next video, till then a gift
