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Waking 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.

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3 Replies

Ravi said ...

01-Jul-2017
what black market are you speaking about.i am a racegoer based in mumbai for last 45years.I have a dozen friends who in the last 20 years gamble by either betting or laying at least 50000 each per race day.They have never gambled on the tote.This is irrespective if state taxes being 12% or above and whatever be the club commission.Even if the gain is 2% our culture is to cheat.However i cannot vouch for other centres.

Mad Max said ...

01-Jul-2017
@ Confused P
Why you say Punters have no say in this issue.

Ask all Punters to STAY BACK AT THEIR HOME ON ALL RACE DAYS FOR 10 DAYS and see the result. This Government (Central) will succumb to the pressure of the mighty Unity of the Punters (if there is any). The State Governments involved will lose hundreds of thousands of Rupees in one year, if the racing industry shut their operation.

Confused P said ...

01-Jul-2017
The stakes are the highest for the Breeders who have invested crores in terms of livestock and infrastructure. So they are definitely going to do all they can.

The next would be the trainers, jockeys, syces, tote operators etc who would lose their livelihood, how they are going to put up their case is not clear.

The clubs can only highlight the revenue that it can generate for the Govt with lower taxes.

And obviously the punters have no say in the whole issue.