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Mobile Premier League (MPL) is reportedly laying off around 50% of its global workforce, weeks after India's GST announced a 28% tax on online gaming platforms that the industry said would burden
Byju's quest to settle the $1.2 billion TLB feud might come at a steeper price. The embattled edtech firm might have to pony up an additional $50-60 million to service the increased interest rate it has offered to conclude the revised terms for the deal. This and more in todays ETtech Morning Dispatch.
The new GST rules will increase the company's tax burden by as much as 350 percent-400 percent, MPL co-founders Sai Srinivas and Shubh Malhotra told employees in an email