BCCI paid over ₹2,000 crore GST in FY23 and FY24
What's the story
The Board of Control for Cricket in India (BCCI) has made a significant contribution to the nation's Goods and Services Tax (GST) revenue. During the fiscal years 2022-23 and 2023-24, BCCI paid a total of ₹2,038.55 crore in GST. This information was revealed by Pankaj Chaudhary, the Minister of State for Finance, during a Parliamentary session today.
Tax clarification
BCCI's tax status and GST rate for sporting events
Chaudhary clarified that services such as admission to sporting events like the Indian Premier League (IPL) are subject to a GST rate of 28%. He also informed that the Income Tax department has denied tax exemption to BCCI under Section 11 of the I-T Act, which pertains to charitable institutions. The minister stated, "The issue of the BCCI's tax exemption is currently sub judice."
Grant status
BCCI receives no grants from Sports Ministry
Chaudhary further clarified that there is no direct tax proposal pending in this regard, at present. He also added that BCCI does not get any grants from any scheme of the Ministry of Sports. This information underscores the financial independence of BCCI as an autonomous entity, registered under the Tamil Nadu Societies Registration Act, 1975.