FAQ - GST
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What is the new GST Rule?
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 My11Circle.
Deposit Amount = ₹ 1000 ÷ 128% = ₹ 781.25
GST Amount = 28% of Deposit Amount = ₹ 218.75 (28% of ₹ 781.25)
My11Circle will give you Promo Cash = (+ ₹ 218.75)
You can use the Promo Cash balance to enter Cash Games & Tournaments.
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Do I still have to pay TDS?
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).
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Is GST applicable on every entry fee that I pay to enter a game table or is it applicable only at the time of depositing money to my account?
No, GST is not applicable on the entry fee used to enter a contest, cash game or tournament. It is only applicable on the money that you deposit.
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I have a GST number, can I get a discount?
As you are an individual and not a business entity, you cannot claim credit of GST paid.
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Do I get a GST invoice?
Yes, you will receive a GST invoice, and you can easily access it through your My11Circle application.
Here's how:
Go to the Menu >> Account Details >> View Transactions >> Download Invoice >> Select the date range >> Click Submit.
Upon requesting the GST invoice from the 'View Transactions' page, you will receive an SMS notification, and if your email is registered with us, you will also receive an email notification.
These notifications will include instructions on how to download the GST invoice. Please note that the GST invoices are available for download for a period of 7 days at a time.
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Will GST apply on my Withdrawal Balance?
No, GST will apply to the amount that you deposit.
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Can I withdraw cash from my Promo Cash 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.
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Can I use my Promo Cash balance to play?
Yes, you can use your Promo Cash balance to play Cash Contests, Games & Tournaments
Note - Amount from your Promo Cash balance will be used first, followed by Deposit Balance & Withdrawable Balance. -
Where can I see my Promo Cash balance?
The promo cash credited to you is added to your Total Balance.
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What is the new GST Rule?
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 My11Circle.
Deposit Amount = ₹ 1000 ÷ 128% = ₹ 781.25
GST Amount = 28% of Deposit Amount = ₹ 218.75 (28% of ₹ 781.25)
My11Circle will give you Promo Cash = (+ ₹ 218.75)
You can use the Promo Cash balance to enter Cash Games & Tournaments.