The 56th meeting of the GST Council held on 3 September (Wednesday) lasted for about 10 hours. Finance Minister Nirmala Sitharaman and ministers of 31 states and union territories attended this meeting. Many major reforms were agreed in the meeting, which will be applicable from 22 September (first day of Navratri). However, new rules on tobacco and its associated products will apply later. These reforms will make many things cheaper, but it will now become more expensive for IPL fans to watch matches in the stadium.
Why did IPL ticket prices increase?
The government has increased GST from 28% to 40% on IPL tickets. Indeed, IPL has been considered a luxury product in the new tax system, just as tobacco products and betting services have been kept.
How much will the ticket price increase now?
₹ 1000 ticket → First ₹ 1280, now ₹ 1400
₹ 500 ticket → Now ₹ 700
₹ 2000 ticket → Now ₹ 2800
₹ 1500 ticket → First ₹ 1920, now ₹ 2100
₹ 2500 ticket → First ₹ 3200, now ₹ 3500
That is, the expenditure for those who book tickets in the family or group will increase considerably.
Keep in mind-This increased rate will only apply to IPL and other high-end sports events. The rest of international or domestic matches will take 18% GST as before.