Scottsville 15.03

Indian Racing is set to fall into deeper abyssal from next month when TDS rules will be changed from 194 to 195BB which makes it mandatory for tax deductions on all winnings. Clubs will be mandated to seek KYC of punters betting on both Totes or with bookies. In absence of KYC they have to deduct 30% on winning amount including investment which is totally impractical. Needless to say Totes will be finished and punters will be left with no choice but to flock Black markets for their betting needs. 

Lack of unity among Clubs is the prime reason for this apathy which has befallen on Indian racing. A God father who can steer Indian racing back to smooth path is needed but will we be able to find another MAM or VM? 

It has been over 5 years now since monstrous GST of 28% was levied on Horse Racing. Clubs neither could not successfully show GST council about ill-effects of high tax bracket nor could they convince them about benefits of practical low slab tax. It looks like they are waiting for some Miracle to happen out of thin air. Then we have TAI (Turf Authorities of India) which is an useless body that could not even perform a basic task of bringing all clubs on common platform for a simple issue like National Tote. 

HRC, MRC have funds good enough to sustain for another 5 years but same cannot be said for BTC, Rwitc, Mysrc, RCTC which are already on hand to mouth situation. 

Let's see how long can they pull

 🇿🇦 Scottsvile

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