Horse Riding

Singapore ends 181 years of horse racing to make way for new homes

More than 120 hectares to be bulldozed for new homes to accommodate the growing Singaporean population that crossed 6 mn this year

India's 247-year-old horse racing club in Chennai stare at closure threat

The existing registered lease contract is dated March 8, 1946, and is legally valid till April 1, 2045, for a period of 99 years

West Bengal clears bill to impose 28% GST on online gaming, horse racing

The West Bengal assembly on Thursday passed a bill by virtue of which online gaming, horse racing and casinos will be taxed at the highest GST rate of 28 per cent on full face value of the bets involved. Minister of State for Finance Chandrima Bhattacharya said when the West Bengal Goods and Services Tax (Second Amendment) Bill, 2023, will become an Act, it will augment the revenue of the state. West Bengal is one of the states which has advocated taxation of such online gaming and similar activities at the highest rate, she said. Bhattacharya said activities like online gaming, casinos and horse racing are all games of chance and not those of skill, and in these cases, the right to participate and the right to win cannot be separated. The minister, who is a member of the GST Council, said West Bengal has been in favour of taxing such activities at the highest rates. She also alleged that there had been a delay in tabling this Bill in the assembly as the governor was seeking numer

India wins gold in equestrian dressage at Asian Games: What is the event?

The Indian team aggregated 209.205 percentage points, finishing first ahead of China (204.882 per cent) and Hong Kong (204.852 per cent)

Cabinet clears changes to laws to levy 28% GST on online gaming, casinos

The Union Cabinet on Wednesday approved changes to GST laws to levy a 28 per cent tax on the full face value of bets in online gaming, casinos and horse race clubs, sources said. The amendments to the Central GST (CGST) and Integrated GST (IGST) acts, which were approved by the GST Council last week, are likely to be introduced in the ongoing monsoon session of Parliament, which will end on August 11. The GST Council in its 51st meeting on August 2 recommended amendments to the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming. The Council also recommended inserting a provision in the IGST Act, 2017, to impose GST liability on online money gaming provided by offshore entities. Such entities would be required to get GST registration in India. The amendments will also provide for blocking access to online gaming platforms located overseas in case of failure to comply with registration and tax payment ...

28% GST on casinos, online gaming, racing to up revenue collection: FM

Finance minister Nirmala Sitharaman on Tuesday said the 28 per cent GST on full face value of supplies in casinos, race courses and online gaming will result in higher revenues. The online gaming segment grew by 28 per cent in 2021 to reach USD 1.9 billion, as per NITI Aayog estimates referred in the Draft National Policy for Growth of Animation, Visual Effects, Gaming, Comic & Extended Reality sector in India prepared by the Information and Broadcasting Ministry. In a written reply to a question in the Rajya Sabha, Sitharaman said casinos are currently paying 28 per cent GST on Gross Gaming Revenue (GGR). Online gaming industry supplying actionable claims and some horse race clubs are currently paying GST at the rate of 18 per cent on platform fees/commission ranging from 5 to 20 per cent of the full face value, while some horse race clubs are paying 28 per cent on the full face value. Sitharaman said online gaming companies supplying actionable claims and some horse race clubs ..

GST Council to discuss tax valuation norms on online gaming on July 11

The GST Council is likely to discuss the recommendations of a group of state finance ministers regarding levy of 28 per cent tax on online gaming, casinos and horse racing, in its 50th meeting next week. The council is also likely to thrash out a consensus on whether the tax would be levied on the full value of bets placed or on the Gross Gaming Revenue (GGR). Sources said the report of the GoM, convened by Meghalaya Chief Minister Conrad Sangma, has been circulated to the states and a threadbare discussion is likely in the council meeting on July 11. The GoM members were unanimous on 28 per cent GST to be levied on these activities. However, since no consensus could be reached on whether the tax should be levied on the full face value of bets placed or the GGR, which is the fees charged by online gaming portals, the GoM left the decision on the GST Council, sources said. In December, the GoM submitted its report to Union Finance Minister Nirmala Sitharaman.

India's $2-billion online gaming industry jolted by taxing times

The $2 billion online gaming industry in India, while grappling with these issues, the online gaming industry should be treated as entertainment and not gambling, as it comes under the games of skill

The future of horse racing hinges on going digital and government support

With horse racing events across clubs in India halted because of a pandemic, the sport is facing an existential question

In praise of hobbies

The overscheduled child has been a cliche for some years, even decades now, the primped and pampered product of parents with two incomes but little time

Horse riding helps children's memory

Vibrations produced by the animals activate the kids' nervous system