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28 percent GST will sound death knell for horse racing
Updated On: 20 May, 2017 08:29 AM IST | | Prakash Gosavi
<p>The sport of horse racing got a body blow when the government spelled out the GST (Goods & Services Tax) details in Srinagar on Friday</p>
The sport of horse racing got a body blow when the government spelled out the GST (Goods & Services Tax) details in Srinagar on Friday. Prescribing 28% GST on betting on horses, the highest among the four slabs--the others being 5, 12 & 18%--this decision by government put paid to all hopes that were raised after a Turf Authority of India (TAI) delegation had met finance minister Arun Jaitley in New Delhi recently.
But the government, it seems, thought it fit to "club" horse racing and race clubs with cinema halls under the 'entertainment' category. Interestingly, the breeding of thoroughbred horses for the purpose of racing has been classified under the 12% slab.
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