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Gst Will Most Likely Be On Commission: Poonawalla

By Rakesh | 26-Sep-2019

If GOM accepts and then GST council approves Then Deductions on Tote comes to 10 to 15 percent rather than current 45 to 50 percent??

And the logical Q is who will decide the club commission???

Poonawalla while speaking to The Times of India remarked that the Fitment Committee of the GST Council feels that GST should be taxed on the commission/rake rather than face value of bets.

https://timesofindia.indiatimes.com/sports/more-sports/others/gst-will-most-likely-be-on-commission-poonawalla/articleshow/71279346.cms

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2 Replies

Ram said ...

27-Sep-2019

All the very best Mr. Poonawala,

This the last in the agenda or no agenda for the govt, I suppose death punters. Don't expect miracles on GST for racing, guys play with bookies whether u win or losose for WIN or PLACE, till they exist. It's a JINX guys.

Regards

RAM

Equinelover said ...

27-Sep-2019

I was reading this article under TOI, and saw a comment that the present govt policy is bring uncertanity to not only Racing Industry but also to other industry. replaying on this article

tI just pushed me say my views in this regard,

Many people who were looting earlier left right and cetre are not allowed to continue with their loot because of prsent govt policies and strong steps, so many people has become more vocal and voicing thier anger more than what they used to do earlier against Modiji more so with Govt.

I Just want to convey them that the decsion on GST is discussed and agreement is reached in GOM GST council and is not taken unilaterally by Modiji.

coming to industry economy slow down it is not just beccause of just Indian govt Policies, any country's economy denends on world economy as we have closely knitted economic situation across the world, we Indian depends on lot many items and mainly crude and technology needs to listen to WTO policies which may look harsh locally. but Govt can only run with Money collected thru direct and indirect taxes. So dependeing on local interest, need, necessities and luxury, taxes are collected. So dont bring on the indian econamy slow down to present GST issue of racing Industry.

to retriate GST is decided by GOM council and not by one person

Now coming to Racing, yes it needs to be Looked into and many people who are working in the Breeding industry and turf club may suffer if the the industry is closed down because of wrong taxation policies. Problem lies with Racing industry who hold top postions have not representyed their problen in proper manner to GOM council and made them understand the gravity of situation.

Some one has to take step and congratulate Poonawalaji for his Best effort in atleast making GOM to atleast listen to the industry griveance,

Peoplefrom racing indusrtry always call this is Skilled sports but the many people still things its nothing but pure Gambling. Problems lies in Racing industry itself. No one has thought take this Skilled Sports to International level.

Main reason being, if you closely look at the nitty gritty of the things, The people who are making money are the people who are not the main stake holders, I mean to say the main stake Holders are the Owners who pays huge sum to own best pedigree horse and feed them and pay Turf authorities the maintainance fee. An avg horse in its 8 yesrs can win 5 to 6 times if it is of best pedigree barring few who are exceptional classic type. and secondly the Breeders who has put up huge sum of Money to have stud farm with many people working under them to Breed best racing Horse, and last People The poor punters who interest is never been heard and even understood by the Turf authorities.

The Main people who are making money are the people whi accepts bets, Racing officials and people who train and ride the horses.

So to make this indtry thrive and to take it to next level, I request Poonawalaji to request Govt to bring Online betting portal to attract people across india and globe to have better revenue. This also opens up oppurtunity for people from other perts of the golobe to invest which can bring in Good money, and this will help not only increse the revenue bu also will help to reduce the scoal stigma, of the people who are getting into race. This step can be way to reduce malpractice.

II conratulate Poonawalaji for his Great effort and use his best connections to help Racing industry put their griveances in front of GST GOM council.

Hope I have not offended any of the people setiments, If so My apologies and its my neutral view not to hurt any one.