Racing Administrators meet Jaitley over GST rate issue | TOI
Posted on - 21 Dec 2016
Racing administrators meet Jaitley over GST rate issue
Mumbai:TIMES NEWS NETWORK
A delegation of Turf Authorities of India, led by Royal Western India Turf Club chairman Vivek Jain, met Finance Minister Arun Jaitley recently in New Delhi to appraise him of the problems facing the sport, providing an overview of the racing industry, and the expected GST roll out and its implications for the Turf Authorities which, if mandated, can result in an all India totalisator.
Describing the status of the industry as a big employer, especially in the agrarian sector, its recognition as a recreational sport, its contribution to social causes and its role in keeping open spaces green, amongst its stellar attributes, the racing delegation explained to Jaitley about the need of GST rate to be rational in order to enable the industry to survive the crisis.
“It is still early days but I am happy we were able to explain our situation to the H'ble FM who gave us a pa tient hearing. We will pursue this relentlessly as it is so critical for the Club,“ Jain told TOI. Jain thanked Bangalore Turf Club's Zeyn Mirza for coordinating the representation and for his involvement in helping the meeting with Jaitley .
As per earlier reports, racing has been included in the special business category under the GST and attracts 40 per cent tax.However, there is no clarity whether the tax is on the commission or the turnover.
Please Comment Below
