GST evasion of Rs 11.6 cr found in distribution of IPL tickets

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The State Department of Revenue Intelligence (SDRI) on Friday unearthed a GST evasion of Rs 11.62 crore in the distribution of the complimentary tickets of the IPL cricket matches organised at the Sawai Man Singh (SMS) stadium season of 2018. Sleuths of SDRI got a specific input which stated that organisers M/s Royal Multi Sports Private Limited through its francize Rajasthan Royals organised seven matches from April 11, 2018 to May 19, 2018.

“During the matches, the tickets were distributed and sold through a portal BookMyShow. Besides, 65,207 tickets costing nearly Rs 11.62 crore were distributed complimentary to various people. The complimentary tickets had a cost varying from Rs 500 to Rs 15,000. Thereafter M/s Royal Multi Sports Private limited were summoned to give the details of the tickets issued during the matches,” said a senior officer of SDRI on the condition of anonymity.

After investigating into the papers and documents it was found that in the complimentary tickets of Rs 11.62 crore the GST which is 28 percent was hidden and was not paid and thus it was a revenue loss. “After GST was introduced on July, 1, 2017 the section 7(1)(A) and 7(1)(B) clearly say that even the complimentary tickets would come under the category of distribution and thus GST is also applicable on these tickets too,” the officer added. SDRI have now given a nod to deduction of 28% GST on the complimentary tickets worth Rs 11.62 crore.

Read more at: https://timesofindia.indiatimes.com/city/jaipur/ipl-tickets-gst-evasion-of-rs-11-6cr-found/articleshow/68433914.cms