New Delhi, May 29 -- In a ruling with far-reaching implications for India's online gaming industry, the Supreme Court has upheld the levy of GST on the full amount staked by players, rejecting the industry's contention that the tax should apply only to platform revenues.

A bench comprising Justices J B Pardiwala and R Mahadevan on Wednesday held that the constitutional validity of levying 28 per cent Goods and Services Tax (GST) on the full face value of online gaming bets, dismissing challenges mounted by gaming companies against the levy under the Central GST Act.

The court declared there was no constitutional infirmity in the levy and validated the rules under the CGST framework for determining taxable supplies across lotteries, bett...