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Back to listsWaking Up To Moving Racing Into The Black Market
By Johnathan | 01-Jul-2017
Today's sunrise will usher in GST. The long years that went into an attempt by a few race club to bring in accountability to racing come to an end with 28% gst coming into play from today. 2000 crore turnover in Karnataka and a 1000 crore turnover in Hyderabad. Instead of taking a leap start with the platform built over the years to increase multifold is going to nosedive and die a natural death.
Racing with a 28% flat tax on every ticket bought is going to be at the mercy of the black market operators until better sense prevails.
The Modi governments top priority is accountability. When they realise that racing is left with no accountability then they would advise closure of this King of sports.
Somewhere down the lime the leaders in this industry have misrepresented their case leading to usher in the END GAME.
Hope some sanity prevails and some knights in shining armour move in and explain to the govt the benefits of the tote system and the benefit of a low GST to curb the black market and the potential to multiply the tax benifit to the govt.
Racing with a 28% flat tax on every ticket bought is going to be at the mercy of the black market operators until better sense prevails.
The Modi governments top priority is accountability. When they realise that racing is left with no accountability then they would advise closure of this King of sports.
Somewhere down the lime the leaders in this industry have misrepresented their case leading to usher in the END GAME.
Hope some sanity prevails and some knights in shining armour move in and explain to the govt the benefits of the tote system and the benefit of a low GST to curb the black market and the potential to multiply the tax benifit to the govt.