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GST
- Greenwich Sidereal Time.
GST
abbreviation for
- goods and services tax
Example Sentences
She's now telling him that "Sandeep sir" is the real conman and he's pilfered most of the 500,000 rupees Mangesh had been promised, but that he can still get 90,000 rupees if he pays 3,000 rupees as GST.
"This GST is neither applicable nor will it have any impact on the video gaming industry or the esports industry," says Lokesh Suji, director of the Esports Federation of India.
This will "disincentivise players and is totally inconsistent with global standards" where VAT or GST is levied at a median rate, and that too only on platform fees or commissions, said Sudipta Bhattacharjee, partner at corporate law firm Khaitan & Co.
But these growth rates will now be called into question as the GST council's decision will impact startups at "multiple levels", including their user base, revenues as well as investor sentiment, according to Soham Thacker, Founder & of CEO of GamerJi - an eSports tournament company.
Announcing the decision late on Tuesday, Finance Minister Nirmala Sitharaman said that the GST council, which comprises of federal and state finance ministers, said "no one wanted to kill an industry".
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