IPL tickets to cost more next season due to GST revision
An IPL ticket with a base price of Rs 500 will cost Rs 700 next season due to 40 per cent GST.
An IPL ticket with a base price of Rs 500 will cost Rs 700 next season due to 40 per cent GST.
An IPL ticket with a base price of Rs 500 will cost Rs 700 next season due to 40 per cent GST.
Indian Premier League (IPL) match tickets are likely to increase in price next season, with the government raising the Goods and Services Tax (GST) on admission to these games from 28 per cent to 40 per cent.
"Admission to casinos, race clubs, any place having casinos or race clubs or sporting events like IPL will have GST of 40 per cent with ITC (Input Tax Credit)," said a release issued by the Ministry of Finance on Wednesday.
Until last season, an IPL ticket with a base price of Rs 500 used to cost Rs 640 with GST levied at 28 per cent. However, from the next edition, the ticket rate would go up to Rs 700 due to the imposition of 40 per cent GST.
The reason for this hike in ticket rate is due to the classification of IPL tickets as 'luxury goods'.
That said, the ticket rates for international cricket matches will not invite more than 18 per cent GST. Besides, match tickets priced below Rs 500 will be exempted from GST.