Steep GST Hike: Watching IPL Matches to Become Pricier
The Indian government has raised the GST on IPL tickets from 28% to 40%, classifying them as 'Luxury Goods'. This change will increase ticket prices, impacting fans. In contrast, international cricket matches will incur only 18% GST on tickets over Rs 500, while tickets under Rs 500 are GST-exempt.
- Country:
- India
Indian Premier League (IPL) enthusiasts will need to dig deeper into their pockets as the government has increased the Goods and Services Tax (GST) on match tickets from 28% to 40%. This financial adjustment was announced by the Ministry of Finance, sparking reactions across the sports community.
The reclassification of IPL tickets as 'Luxury Goods' means that fans can expect a significant hike in prices. A ticket that previously cost Rs 640, inclusive of 28% GST, will now set fans back by Rs 700 due to the new tax rate.
In contrast, tickets for international cricket matches hosted in India remain unaffected by this luxury tax category. They will continue to be taxed at a lower rate of 18% for tickets priced over Rs 500, and below this threshold, they are exempt. This decision underscores differing tax treatments for national and international games.
(With inputs from agencies.)
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