Firstly, 78+28% = 100 so you get 78 chips for every Rs. 100 and not 72.
Secondly, i don’t think they will pass on the entire burden to the customer.
They will probably increase the fixed entry fee, reduce free drinks and food options at the casino table, reduce the number of performers / staff etc. or all of the above.
GST @ 28 is definitely a negative but i think they will overcome without drastically affecting the offline business. Online business is dead with GST @ 28.
Moreover, they will probably review this in 6 months and hopefully by then the MEITY and GST council will be on the same page – by this i mean they will treat games of skill and games of chance differently for the purpose of taxation (as was being explained by Rajeev Chandrashekar recently) With this – poker comes under games of skill (numerous previous court judgements) which contributes significantly to delta’s online and offline business so that should be a positive.
disclosure: invested in delta and also a customer at deltin royale (infrequent)
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