On May 27, 2026, the Supreme Court confirmed what the industry had feared for over two years: backdated GST demands totalling over Rs 1 lakh crore against India's real-money gaming companies are valid, and must be paid. The companies that owe this money no longer have a legal business to run. Their core product was banned by Parliament nine months ago. That is the situation. And the full story is worth understanding, because it is not only about gaming. How the Industry Got HereDream11 was found