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GST on Horse racing
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....ST on Horse racing<br> Query (Issue) Started By: - Shashi Kumar Dated:- 25-5-2017 Last Reply Date:- 27-5-2017 Goods and Services Tax - GST<br>Got 1 Reply<br>GST<br>Horse racing has been clubbed with e....
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....ntertainment 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 re....
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....st 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 bet....
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....ting 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 1....
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....2% 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 ....
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....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.<br> Discussion Forum - Knowledge Sharing ....