New Govt. Rule: Starting 1st Oct, 2023, 28% GST will apply on
deposits on Online Gaming platforms.
You can use your Promo Cash balance to play Cash Games and tournaments. Let's understand this better with scenarios.
Let's say Mr. Rao uses ₹ 200 from his Promo Cash balance to play games & wins ₹ 1000.
Case A: Game Won: | |
Promo Cash Balance | ₹ 200 |
Withdrawable Balance | ₹ 5000 |
Entry Fee | ₹ 200 |
Total Winnings | ₹ 1000 |
Balance at Game Start | |
Promo Cash Balance | ₹ 0 (₹ 200 is deducted to play the game) |
Withdrawable Balance | ₹ 5000 |
Updated balance on winning ₹ 1000* | |
Promo Cash Balance | ₹ 0 |
Withdrawable Balance | ₹ 5000 + ₹ 1000* = ₹ 6000 |
* ₹ 1000 = ₹ 800 Cash Winnings + ₹ 200 Entry Fee
Let's say Mr. Rao uses ₹ 200 from his Promo Cash balance to play games & loses.
Case B: Game Lost | |
Promo Cash Balance | ₹ 200 |
Withdrawable Balance | ₹ 5000 |
Entry Fee | ₹ 200 |
Balance at Game Start | |
Promo Cash Balance | ₹ 0 (₹ 200 is deducted to play the game) |
Withdrawable Balance | ₹ 5000 |
Balance after losing | |
Promo Cash Balance | ₹ 0 |
Withdrawable Balance | ₹ 5000 |
Note: On losing, there will be no change in the Withdrawable Balance
Let's say Mr. Rao plays a Points Rummy game of 1 Point Value & wins 20 Points
Case A: Game Won: | |
Promo Cash Balance | ₹ 200 |
Withdrawable Balance | ₹ 5000 |
Entry Fee | ₹ 80 (1 Point Value x ₹ 80) |
Amount Won | ₹ 20 (1 Point Value x 20 Points Won) |
Total Winnings | ₹ 100 (Entry Fee + Cash Winnings) |
Balance at Game Start | |
Promo Cash Balance | ₹ 120 (₹ 80 is deducted to play the game) |
Withdrawable Balance | ₹ 5000 |
Updated balance on winning ₹ 100 | |
Promo Cash Balance | ₹ 120 + ₹ 80 (Entry Fee) = ₹ 200 |
Withdrawable Balance | ₹ 5000 + ₹ 20 (Cash Winnings) = ₹ 5020 |
Note: On winning, ₹ 80 which was used as an Entry Fee will move back to the Promo Cash Balance. Cash Winnings of ₹ 20 will be added to Withdrawable Balance.
Let's say Mr. Rao plays a Points Rummy game of 1 Point Value & loses by 20 Points
Case B: Game Lost: | |
Promo Cash Balance | ₹ 200 |
Withdrawable Balance | ₹ 5000 |
Entry Fee | ₹ 80 (1 Point Value x ₹ 80) |
Amount Lost | ₹ 20 (1 Point Value x 20 Points Won) |
Balance at Game Start | |
Promo Cash Balance | ₹ 120 |
Withdrawable Balance | ₹ 5000 |
Balance after losing | |
Promo Cash Balance | ₹ 120 + ₹ 60 (₹ 80 - ₹ 20) = ₹ 180 |
Withdrawable Balance | ₹ 5000 |
Note: On losing, players' Losing Amount (₹ 20) will be deducted from the Entry Fee (₹ 80). The balance amount (₹ 80 - ₹ 20 = ₹ 60), will get added back to Promo Cash.
Important
As per the new GST rule passed by the Govt., 28% GST will apply on deposits on Online Gaming platforms from 1st Oct, 2023. Don’t worry✋You will get guaranteed Promo Cash on all deposits! Here’s how it will work -
Let's say you add ₹ 1000 on RummyCircle.
GST Amount = 28% of Deposit Amount = ₹ 218.75 (28% of ₹ 781.25)
RummyCircle will give you Promo Cash = (+ ₹ 218.75)
You can use the Promo Cash balance to enter Cash Games & Tournaments. Keep depositing worry-free!
No, the GST amount is collected from you on behalf of the government and cannot be refunded to you.
Click on the wallet icon and you will see 'Promo Cash' below Withdrawable Balance. Promo Cash, Instant Cash, Bonus, Reward Points & other Cash Offers are added here. Note - 'Promo Cash' is available only on the latest app version
Yes, you can use your Promo Cash balance to play Cash Games & Tournaments
Note - Amount from your Promo Cash balance will be used first, followed by Deposit Balance & Withdrawable Balance.
No, you cannot withdraw cash from your Promo Cash balance. But you can definitely use it to play & win real cash prizes!
Note - Cash winnings will get added to your Withdrawable Balance.
No, GST will apply on the amount that you deposit.
Yes, you will get a GST invoice for all your deposits. You can download it from "My Transactions" >> 'Download Invoice >> Put a date range & 'Submit'
As you are an individual and not a business entity, you cannot claim credit of GST paid.
No, GST is not applicable on the entry fee used to enter a cash game or tournament. It is only applicable on the money that you deposit.
Yes, 30% tax will be applied on Positive Net Winnings at the time of withdrawal or on 31st March (i.e. end of every Financial Year).