GST on Horse racing

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... GST on Horse racing
Query (Issue) Started By: - Shashi Kumar Dated:- 25-5-2017 Last Reply Date:- 27-5-2017 Goods and Services Tax - GST
Got 1 Reply
GST
Horse racing has been clubbed with .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... entertainment at 28%. Turf Clubs have a totalizator system which works on pari-mutuel basis where pooling happens from ppl who bet and from the total revenue collected, a commission is taken out and r .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... est is distributed back to the public. For instance, at Bangalore, for every 100 rupee collected, 12 is taken out as commission and the rest 88 is paid back. If the 12, 8% goes to the state govt as be .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... tting tax and 4% is retained by the club. The annual turnover of the Club is around 2000 crores. Will the GST be on the turnover or the commission? The "service" is costing these Clubs only .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 12% and not the actual turnover. A similar instance that can be cited here is that while trading Securities (or share trading), the tax is applicable only on the difference between the selling and the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... buying price and not on the total investment. Thank you. Reply By MARIAPPAN GOVINDARAJAN: The Reply: In my view it is on the total turnover.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X