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Posted By : Raja456 Posted On : Aug 12, 2017
Subject :Punters seek relief from 28 per cent GST
Punters quoted a Supreme Court ruling that held that horse racing is a game of skill and should be exempt from tax.

Hyderabad: The Hyderabad Race Club says its punters are among those paying the highest rate of GST at 28 per cent and a cess of 12 per cent.

Punters quoted a Supreme Court ruling that held that horse racing is a game of skill and should be exempt from tax.

Captain L. Panduranga Reddy (retd), president of Voice of Horse Race Wagers Association, explained: “Horse racing is taxed 28 per cent as per the revised GST, and state lotteries are taxed 12 per cent. As per the Supreme Court declaration, horse racing is a game of skill and does not involve betting. This being the case, how can the GST Council impose 28 per cent tax?”

He said that in addition to that, race clubs are charging 12 per cent. “It should be noted that the stock exchange is a gamble as well, but investors don’t pay any service tax, even if they make profits as tax is being collected from stock exchange companies. Similarly GST should be collected from race clubs and not from punters,” he said.

“With high tax being imposed, punters are going in for illegal betting and this will bring down the revenue of the government,” pointed out Mr V. Govind Reddy, another member of the association.

The racing fraternity wants the GST Council to set up a panel that will hold discussions with race-goers, race/ turf clubs and others and arrive at a mutually agreeable tax slab.

Courtesy - deccanchronicle.com
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  BHARAT said ... On : 8/12/2017 9:29:17 PM
Hi All

There are more than 10 Dream Fantasy Companies which also term their games as Game of Skill, are operating online in India and one can freely as well as easily join them. There is an entry fee ranging from Rs.5 to Rs.5750 depending on number of members and prize money offered for a specific contest. Prizes offered are from Rs.5/- (to a lowest winner) and upto Rs.10 Lakhs on one winner in a mega contest.

There is not a single paisa tax charged on entry fees from contestants.
Only tax charged is Income Tax +Cess @ 30.9% if amount won from one single contest is more than Rs.10,000. Then as to why horse racing punters should be asked to pay a very high tax on betting amount(i.e. entry fee).

I think our Race Clubs should take up with authorities not to treat two games of skills on different yard-stick.

Some Advocate or eminent Legal Advisor on the forum may kindly opine if my interpretation does not seem correct.

Bharat

  CID said ... On : 8/12/2017 9:26:46 PM
The SC judgement that racing is a game of skill purely refers to and is confined to the jockey-horse partnership which is a team taking part in a competition having prescribed set of rules. It is strictly confined to the turf area of the race course and never to the betting ring.
So don't ever dream of holding the SC to ransom . It will further boomerang on the already beleaguered sport.

  lsakumar said ... On : 8/12/2017 9:23:12 PM
Raceing is a king of games no one will invite us to come and play it is purely ones own desicion to bet on a perticular horse if it loses who is responsible that is we so wr should not blame for our judgement we have to take it is a game of skill for small punters for big owner ut is game of gamble so better wr have to only enjoy the game no one can make any money in raceing unless black money fellows can make white money those days gone for honesty raceing all centers r not conducting fair raceing you can se the horse few days placed noardout favouritr will ein the very next outiing it will win by gods micracal better to rnjoy rather thsn betting
regards

  stop fooling punter said ... On : 8/12/2017 5:04:17 PM
Some write just for the heck of it and give quote of many years back.
ASK your self is it really a sport nowadays, Are you joking?

It is pure and simple gambling.

There are god knows how many petitions pending with GST council including one from Telangana govt of relief and review.
The will be thrown in the dustbin,without even a glance.

28 % GST is there to stay like or lump it

  SR said ... On : 8/12/2017 3:30:40 PM
there is a saying hope eth all things endureth all things this cap reddy can hope govt will kick them so hard on their back they wont even visit the race course for time to come.RACING DOES NOT INVOLE BETIING??????????????????????????? ITS THE MOST DAYLIGHT ROBBERY FORM OF GAMBLING IN THE NAME OF SPORT