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.
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 PokerCircle.
Deposit Amount = ₹ 1000 ÷ 128% = ₹ 781.25
GST Amount = 28% of Deposit Amount = ₹ 218.75 (28% of ₹ 781.25)
PokerCircle will give you Promo Cash = (+ ₹ 218.75)
You can use the Promo Cash balance to enter Cash Games & Tournaments.
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, you will receive a GST invoice, and you can easily access it through your PokerCircle application.
Here's how:
Go to the 'Hamburger' option on your PokerCircle application.
Select 'My Transactions' Choose 'Download Invoice'
Select the date range for which you need the invoice.
Click 'Submit'
Upon requesting the GST invoice from the 'My 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.
No, GST will apply to the amount that you deposit.
No, the GST amount is collected from you on behalf of the government and cannot be refunded to you.
As you are an individual and not a business entity, you cannot claim credit of GST paid.
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.
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.
Click on the wallet icon and you will see 'Promo Cash' below Withdrawable Balance. Promo Cash, Bonus & other Cash Offers are added here. 'Promo Cash' is available only on the latest app version.
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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