The Turf Authorities Of India (TAI) has expressed its disappointment at the decision taken by the GST council, at its meeting held on July 11, to impose a GST of 28% on the full face value of the bets placed in horse racing.
Mentioning that horse racing is a sport recognised internationally, and even in India for over 200 years, TAI has put forward a plea to the council to reconsider its decision by highlighting certain issues, namely:
1. Turnover has dropped by nearly from about ₹17,000 crore to approx. ₹6,400 crore during the post GST period, as compared to the period prior to introduction of GST.
