IPL ticket prices soar as government hikes GST to 40 pc, putting lucrative league in luxury bracket

Cricket fans will now face higher costs to watch IPL matches in stadiums, as the government has raised GST on IPL tickets from 28% to 40%. This hike places IPL in the highest tax bracket, alongside casinos and luxury items, categorising it as a luxury activity. Regular cricket matches, however, remain taxed at 18%. The increased GST significantly raises ticket prices—₹500 tickets now cost ₹700, ₹1,000 tickets rise to ₹1,400, and ₹2,000 tickets reach ₹2,800. These figures exclude additional expenses such as stadium fees and online booking charges, further burdening spectators. The hike is part of a broader GST overhaul aimed at curbing high-end discretionary spending. In contrast, cinema-goers see some relief, with GST on movie tickets priced up to ₹100 reduced to 5% with input tax credit. Tickets over ₹100 remain at 18%. The change makes live IPL viewing more expensive, impacting affordability for cricket lovers across India.

GST Bonanza fuels stock markets rally; Sensex jumps nearly 900 points

Benchmark equity indices Sensex and Nifty surged sharply in early trade on Thursday, buoyed by investor optimism after the GST Council approved a major overhaul of the Goods and Services Tax regime. The Sensex jumped 888.96 points to 81,456.67, while the Nifty rose 265.7 points to 24,980.75. This positive momentum followed the Council’s decision to simplify the tax structure, limiting GST slabs to 5% and 18%, effective from September 22, coinciding with the first day of Navaratri.

Key changes include a reduction in GST on everyday items such as roti/paratha, hair oil, ice cream, and TVs, and nil tax on personal health and life insurance, providing relief to consumers and stimulating demand. Among Sensex stocks, Mahindra & Mahindra led the gainers, rising over 7.5%, followed by gains in Bajaj Finance, Hindustan Unilever, ITC, and Tata Motors. However, Tata Steel, NTPC, and HCL Tech were among the laggards.

According to VK Vijayakumar of Geojit Financial Services, the reform is a consumption booster and could positively surprise the economy, though tariff-related concerns may linger. Meanwhile, FIIs sold stocks worth ₹1,666 crore, while DIIs purchased ₹2,495 crore. Asian markets showed mixed trends, and Brent crude declined to USD 67.22 per barrel.(With inputs from Agencies)