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BCCI

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With launch of Goods and Services Tax (GST), the Indian sports industry feels the heat from a heavier tax burden in the near future. Tickets for sports events such as the Indian Premier League (IPL) will include a tax charge of 28% approx., which will boost their prices. The impact of GST will be clearly visible with the rise in the prices of sports goods and equipments as well price hikes of tickets for premier sports events.

Sports goods set to be costly

The manufacturers in the industry had been paying a 2% excise duty on goods, after the charge was imposed in 2011. Now, under GST, these goods will be taxed under the 12-28% slab, a steep rise from the previous charge. While most of the manufacturers had called for sporting equipment to be placed under the 5% slab, debating the industry still falls under cottage industry category; the GST Council decided to set with a much higher rate.

The council doesn’t consider a number of products such as sports helmets, sports kit bags, training bags, boxing headgear, etc., as sports goods. These have been placed under categories from 12-28% slabs. While the sports gloves will be charged at 12%, the athletics, gymnastics and table tennis equipment will be taxed at 28%. Essential fitness items such as sports shoes, skipping ropes, etc, will also feel the heat of GST reform, as the category has been placed in the 28% slab.

“To make high quality equipment, we need support from the government. The current move might have a negative impact on the growth of the industry. There are more than 1000 registered units and another 1500 cottage units in villages,” Rakesh Mahajan, chairman of All India Sports Goods Manufacturers’ Federation.

Pay more for IPL tickets, events by NSFs in 18% slab

Tickets for the events organized by National Sports Federations (NSFs) and of course BCCI-organized cricket matches will be taxed at 18%. Tickets for Indian Premier League (IPL) as well as Pro Kabaddi League (PKL), will even go higher as they will be taxed at 28% under the new GST regime.Tickets priced below Rs.250 will be exempt from GST.

 

(A compiled report)

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That’s the spirit! Our favorite Indian Cricket captain Virat Kohli revealed that he always wanted to be the best in the World.

He is so confident that he always knew that he is a consistent performer in all three formats of the game to realize his dream.

Recently Virat Kohli won Polly Umrigar award for the BCCI’s International Cricket of the year at the annual award of Cricket Board’s.

During the award ceremony he said that he always wanted to be one of the top players in the World.

He said “I always wanted to be one of the top players in the world for sure. So I understood what it would take for me to maintain my form in all three formats. It is very important in transition phase to be available in all three formats and take the country forward.”

He is a true believer of his abilities although there were many people who doubted him.

He further said “All along in my career, there were many people who had doubted the way I have gone about my game. Even now there are doubters and haters all around, but one thing is for sure that I have always believed in myself. “I always believed in my heart that if I work 120 per cent every day in my life I am answerable to no one.”

With this award Virat has become the first Indian to receive the Polly Umrigar award for the third time.

Virat generously praised his teammates for their support and contribution in helping India reach the pinnacle of Test cricket.

His last twelve months have been a breakthrough year in his career.

He said “It is been quite unbelievable in the last 10 to 12 months. As cricketers you always have a breakthrough year for everyone. Starting late 2015 to the end of 2016, probably I could term is as the breakthrough year in my career. All the hard work, all the training on a daily basis, all the sacrifices, came together nicely. It could not have been possible without the help of the teammate’s throughout.” At times you don’t do well but when the champion players in your side step up and everyone deliver what when you start producing results. That is why we are the top side in the world at the moment, and it is testimony to the kind of talent we have in the team and how players have stepped up on occasions which helped the team pull through different situations. I thank my teammates for their support, trust and effort.”