RACING has picked up a gear or two as the Indian Derby weekend looms on the horizon. Fillies may well dominate the Blue Riband of the Indian Turf, as Manifold has joined Lady In Lace, who did just enough in her mock race on Sunday, and Calcutta raider Sana, at the top of the lineup, with one time favourite Castlebridge out of the fray.

Last week was like the proverbial curate’s egg for the RWITC-- good in parts. The order by Justice Rebello, on the dispute with Gallops, brought cheer to the club, which is now in pole position to drive home a winner on this long drawn race. After BJR’s reneged on their contract and claimed tenancy which resulted in series of suits, out of court settlement tries and litigation and which made the RWITC poorer by over Rs 40 crore, it has been a marathon without a winning post. I had opposed, from inception, their unfair tactics, despite which had even led a settlement effort, but without success. The September order confirmed that Gallops are not tenants and must pay their dues and which was followed by an order that they also have to evict our premises forthwith.

This is a major victory for those of us who contested this dispute on a matter ofprinciple.

The RWITC ought to move the High Court for executing the award, and if BJR’s petitions for a stay, should RWITC move for execution, it will have to pre deposit the awarded amount, according to legal experts. We can only hope that the RWITC moves with speed to ensure it capitalises on this huge breakthrough.

The backbone of a racing club’s revenue is betting income. The grapevine has it that the RWITC has accepted it made a short payment of about Rs 9 crore, albeit in protest, for the first few months from July 1, as its interpretation of the GST rules was not in sync with that of the Council.

I have been of the firm view that it is more pragmatic to seek redressal from the Fitment Committee than take a huge risk on paying tax as we please. The TAI had made a case of GST based on an average weighted betting tax all India and this needs to be followed through.

The fact that RWITC has upped its deduction on FOB from nil to now 15% is proof that it senses a potential threat. As chairman, I was virtually alone and isolated on the need for playing a conservative hand on the GST issue. It is gathered that that the Ministry of Finance has issued a notification dated Jan 23 (soon to be gazetted) clearly specifying that GST is to be paid on the face value, which effectively brings a closure and puts a lid on any perceived ambiguity on the subject.

(VIVEK JAIN IS FORMER CHAIRMAN OF THE RWITC)

Courtesy TOI