After the implementation of GST on Ist July 2017, the entire sports world had been affected. The tax rate has increased up to 28% which led to increasing of ticket price as well. However, the local organizing committee has assured that the FIFA world cup ticket price would not get impacted by the uniformed tax rate.
Javier Ceppi, the tournament director, said that the ticket price has been kept economical for the maximum mass approach. According to the GST bill which has been implemented on 1st of July, sports tickets which would cost below ₹ 250 would not attract any tax.
The initial phase of U-17 FIFA world cup offers 60% discount on the tickets. After the GST implementation IPL would attract 28% GST while the tournaments arranged by the national sports federation would attract only 18% GST.
Due to the implementation of GST, the price of some sports equipment would increase as well.
The Indian batsman Manoj Tiwary requested the coaching centers to assist the cricketers who need financial help with basic cricket kits.
With the price of sports equipment going up, it would be tough for the budding cricketers who are not coming from rich families to afford them. With the price hike, it would be helpful to assist the cricketers with basic kits. This move would save a lot of talents.
Before the unified tax system implementation, the sports equipment attracted only 2% excise duty. However, the tax rate for the same equipment has gone up to the slab of 12 to 28%.
To discuss the impact of GST, Joydeep Karmakar, the former Olympian shooter said that the impact would mix. Both good and bad impact would be felt. It is important to take a look at the equipment which is arriving from the other countries.
Shoes which cost below ₹ 500, would see a lower rate of tax while the shoes which cost over the said amount would attract 18% tax rate. Previously, shoes that cost more than ₹ 500 attracted 14.4% tax.
