TOPIC DETAILS
Posted By : ramanujan Posted On : Jun 19, 2017
Subject :GST on RACING : Right time for clubs to act on sou
Now
Supply of lottery shall attract GST rates as under – 1. Lottery run by State Governments – 12%
2. Lottery authorized by State Governments – 28%
Clubs should lose no time to seize the nice opening available now to push ahead towards the winning post.

It’s no child’s play to run racing as against lottery. It would be a pity and gross failure if we fail to highlight-how a whole lot of downstream agriculturally oriented industrial activities providing vast employment opportunities to rural India – how horses are no different from cows/bulls in their food habits forcing increased growth of fodder, again a thoroughly green activity promoted etc. eminently detailed elsewhere in these columns by experts of breeding industry-- are behind running races successfully and present a game of skill to the public. Could ever the lottery (whoever runs the state or state authorized ) boast of anywhere near viable benefits on the ground to match with racing and not to speak of promoting the intellectual pursuits?

Highlight points are endless in favour of securing a far better deal than what the industry is threateningly hurled at.
Cheers

a
  Mad Max said ... On : 6/22/2017 11:01:19 AM
@ Hi Guys
Horse racing will continue for ever.
No one will stop betting.

Super Jackpot Deduction 55%.
For the remaining 45% is disbursed to winners.
Still there are punters who fight each other for this pittance.

Jackpot Deduction is 44%.
For the remaining 56% is disbursed to Winners.
Still there are punters who fight each other for a share.

Even the Government make GST 50% there will be punters to patronize Horse Racing. This section of punters think it is easy money.

Secondly, the Clubs will ensure the Dividends should be more lucrative. The option left for them is give a free hand to Trainers and Owners. No Favourites only Flukes.

  Confused P said ... On : 6/20/2017 3:30:16 PM
In General,

First, I do not think anyone blamed MAM for Be Safe debacle. He is not the one to succumb to outside pressure, nor he is the kind to have connections with the Company.

Secondly, Madras Race Club has been paying 25% tax all these years even when MAM was alive. Yes Of course, he could have influenced a few members of the think tank to consider racing favorably.

All the same, even if it is 28% and it is on the Club Commission rather than the turnover, it would in fact work out cheaper than the current scenario (Say if the club comm is 10, add 28% which will be passed on to the punters, total would be only 12.8%, less than existing deductions for many pools).

As for people with high hopes for return of Bookies, there too it would and should be 28% (or any X% declared). All this half tax business is illegal and nothing but generation of black money for the Bookies, Of course you can count the number to punters winning big in races to have black money.

  krishna don said ... On : 6/20/2017 10:39:48 AM
Now you know the importance of Dr MAM Ramaswamy. When he was alive everybody was blaming him for be safe. He fought to bring back racing in India. If he was alive today, racing could be under 5%.

  stop fooling punter said ... On : 6/20/2017 9:24:20 AM
Ashok please under stand we all are worried about 28 % tax. No less than Vivek jain has hinted that this will be it.

Now please note only state run lotteries are reduced to 12 % and not private ones. Race clubs are private so it is up to the clubs to take up the issue with thier govts.

So let us hope for the best.Be rest assured racing will take a massive hit if 28 % comes.

  ashok said ... On : 6/19/2017 7:19:51 PM
Without knowing anything about the GST effect may have on horse racing,evereone seems to express their expertise,including some bookmakers... It has been assumed by bookmakers (Not allowed to operate in Bangalore and Mysore) that it may have negetive effect on tote collections,the club management will be forced to recall bookmakers..

  Rakesh said ... On : 6/19/2017 6:57:19 PM
On second point it is 18 not 28...pls check before posting anything...

  Mad Max said ... On : 6/19/2017 6:26:24 PM
@ Ramanujan

Only 13 states are legally conducting Lotteries in India. hey are Kerala, Goa, Maharashtra, Madhya Pradesh, Punjab, West Bengal, Assam, Arunachal Pradesh, Meghalaya, Manipur, Sikkim, Nagaland and Mizoram. Other states banned all kinds of Lotteries because the Lotteries are under the Concurrent List of the States. The Union government has no rule concerning Lotteries before the GST era, and it was a State subject, that is the reason FM Jaitly and other GST council members agreed to upped the tax on Lotteries authorised by other states and run by private parties. Kerala wanted to up the GST on Lotteries to 28%. Lottery Mafia pressurised the Central Government and they wanted to put it at 5%. Meghalaya, Mizoram, Assam, Arunachal Pradesh, Sikkim, Manipur and Nagaland lotteries run by dubious private parties are minting money inspite of irregularities with the support of certain Bureaucrats in the Government supporting the mafia. Now the GST has fixed at 28%. This will drastically reduce their margin, so their invading the Kerala Market can stop to an extent. States tax also increased from 5% to 12%, but vis-a-vis other lotteries, the state governments running lotteries such as Kerala, Goa, Maharashtra, Madhya Pradesh, Punjab and West Bengal may flourish because of increased income.

Kerala Lottery is the most trust worthy among Indian States, every time they publish the winners name and address with photos in newspapers. Lotteries run Mafia for the Eastern Indian States never publish their winners. Nobody knows whether they giving away big prizes. That is the reason people like Martin and his syndicates become multi billionaires.

So dont compare the Lotteries with a totally mafia controlled Horse Racing when you can only lose your money every day.