GST rates finalised for almost 81% of items below 18%, rest 19% of items above 18%. Possibly the GST for horseracing may be announced tomorrow. Eagerly waiting for the announcement by FM tomorrow evening. Let us see to which extent our racing wizards headed by Vivek Jain were able to convince the FM last week. Fingers crossed.
14 Replies
Stop Fooling Punter said ...
20-May-2017
Mad max Vivek reminds me of an old Shammi kapoor Movie Bluff master.He shows he is working but out put nil
He has single handedly caused more harm to racing first to RWITC and now every where.
May I ask him how it has jumped from 18[As proposed earlier] to 28 %%.
Racing will survive but will be limping.You can forget any court entertaining any plea on GST ,Otherwise it will flooded by appeals only.
We have to live with it atleast enjoy till 01July
Mad Max said ...
20-May-2017
@ Hi Guys,
Now you all have seen THE SO CALLED "CLOUT" THESE CLUB OFFICIALS ENJOY with the POLITICIANS?
IS IT TRUE?
RWITC TOTE is already suffering because of the HIGH TAX CUT. So they have no problem if GST is 28% it will bring other Race Clubs like BTC, HRC on par with RWITC from July 1st.
Now my question to Vivek Jain?
Have you urged Finance Minister to implement a UNIFORM TAX STRUCTURE in all Race Clubs in India. I think your main intention of the meeting with FM was to teach a lesson or two to BTC, MRC and HRC ?
You people KILLED THE HORSE RACING. Now there is only one option left. KNOCK THE DOOR OF SUPREME COURT and request them to INTERFERE AND SAVE THE DIENG SPORTS on the basis of their ruling - Horse Racing is a sports under the skilled category. So any tax structure should be on the basis of saving the sports.
Confused P said ...
19-May-2017
GST of 28% as service tax for club issuing tickets to punters, 28% for bookies to issues cards !! What an Idea Sir ji !! Please Rope in Abhishek Bachchan for an Ad !
Jp said ...
19-May-2017
When the rates for clubs is 28% and RWITC is already in ICU what is use of lower tax for breeding. You think racing can continue with this rate structure. Already most of the breeders have started racing their stud products in their own colours clearly indicating lack of market and with racing going to plunge down due to GST whose is going to buy.
Rakesh said ...
19-May-2017
28% tax slab on 5-star hotels, race club betting, cinema. So in total 40? including cub commission..if cubs reduce their commission to 2? then tote may survive otherwise racing will die in one or two years...
Mad Max said ...
19-May-2017
@ Ravi Govande
Dont mix GST on Betting and GST on Sale/Purchase/auction of horses. You are totally confused.
Golden Allure said ...
19-May-2017
If the gst for horse racing is 28 % ,this will really be bad for racing
Sr said ...
19-May-2017
Thumbs up 28 percent.Now the game will begin.
Tarun said ...
19-May-2017
Surely they can;t be more bad news. But that;s the rate the government has fixed. So whoever went to represent the Indian Turf Clubs did nothing. Not even sure what rates they expected. With racing falling under sin tax it was obvious. Get ready for Money back dividends for place in all centres. Also what rate of tax will the bookie take bets.
Vincero said ...
19-May-2017
28% tax for race club,betting and Cinema halls
How long can club survive on diminishing tote collections
Sad day for Indian racing
Stop Fooling Punter said ...
19-May-2017
Sad day for racing .we have been clubbed at 28 % with entertainment..
Worst hit Mys and BNG
Illegal bookies will mushroom from 01 july.
Ravi Gowande said ...
19-May-2017
Yes for Live horses GST is 12 %. In my opinion this will boost Indian breeding industry considerably. Racing will not remain to the exclusive class but middle class will also consider race horse as alternative investment class.
Ravi Gowande
Pedigreestar
Srinivasan said ...
19-May-2017
For the first GST list the URL is given below.
www.thehindu.com/business/Economy/article18494808.ece/BINARY/GSTSCHEDULE.pdf
and
www.thehindu.com/business/Economy/article18494861.ece/BINARY/GSTCOMPENSATIONCESS.pdf
This is for your information.
Srinivasan said ...
19-May-2017
In the 1st page out of 213 pages for live horse (This is the first item ) it is mentioned is 12%.
I hope it may be in 12% group.
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