Indian F1 Grand Prix: No racing in the foreseeable future

aravind.anand · 27th April 2017, 15:15

We all know the Government isn't taking any steps to help improve the Motorsport scene in India. Now I only wish that they din't take such detrimental steps to kill Motorsports completely! With this verdict, this is exactly what SC has done with Indian Motorsports -

vamsi.kona · 27th April 2017, 16:01

I am not quite sure why F1 shouldn't be made liable for the fee that they receive when they host races. They are doing it for a profit and certainly not for charity. And, F1 doesn't invest back a single rupee for the development of the sport in India, so why should they be exempt from being taxed for the income they earn in India.

As an example BCCI paid almost 2140 crores from 2004-05 till 2015, and BCCI invests heavily for the development of the game in India. If BCCI isn't exempt then why should F1 be?

D33-PAC · 27th April 2017, 21:23

Quote:

Originally Posted by vamsi.kona

If BCCI isn't exempt then why should F1 be?

Because that's the condition Bernie Ecclestone came into India with. He's a businessman, only after the money. Everything is a means to an end.

If Formula One is a casino, Bernie Ecclestone is the house, the owner, he wins regardless of the outcome of any race.

Harvard should write a case study on a such a shrewd person!

vamsi.kona · 27th April 2017, 23:11

Quote:

Originally Posted by D33-PAC

Because that's the condition Bernie Ecclestone came into India with. He's a businessman, only after the money. Everything is a means to an end.

Probably it might have been the over confidence of Jaypee group who thought they might be able to evade tax. Whatever might be the arrangement between them, it doesn't seem logical to allow a business from not paying tax when people with meagre incomes pay them.

sgiitk · 28th April 2017, 10:57

By refusing to classify F1 as a sport, the GoI made it subject to all taxes. Now we can suffer at leisure.

i do not see F1 coming back in a hurry.

Monolithic · 28th April 2017, 12:04

Quote:

Originally Posted by D33-PAC

If Formula One is a casino, Bernie Ecclestone is the house, the owner, he wins regardless of the outcome of any race.

Harvard should write a case study on a such a shrewd person!

Well, guess what?

http://www.hbs.edu/faculty/Pages/item.aspx?num=29303

27th April 2017, 15:15	#61
aravind.anand Senior - BHPian Join Date: Apr 2011 Location: Madras <-> Cbe Posts: 2,084 Thanked: 5,685 Times View My Garage	re: Indian F1 Grand Prix: No racing in the foreseeable future We all know the Government isn't taking any steps to help improve the Motorsport scene in India. Now I only wish that they din't take such detrimental steps to kill Motorsports completely! With this verdict, this is exactly what SC has done with Indian Motorsports -
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27th April 2017, 16:01	#62
vamsi.kona BHPian Join Date: Sep 2008 Location: Hyderabad Posts: 280 Thanked: 568 Times	re: Indian F1 Grand Prix: No racing in the foreseeable future I am not quite sure why F1 shouldn't be made liable for the fee that they receive when they host races. They are doing it for a profit and certainly not for charity. And, F1 doesn't invest back a single rupee for the development of the sport in India, so why should they be exempt from being taxed for the income they earn in India. As an example BCCI paid almost 2140 crores from 2004-05 till 2015, and BCCI invests heavily for the development of the game in India. If BCCI isn't exempt then why should F1 be?
	(6) Thanks

28th April 2017, 10:57	#65
sgiitk BANNED Join Date: Dec 2007 Location: Gurugram Posts: 7,969 Thanked: 4,788 Times	Re: Indian F1 Grand Prix: No racing in the foreseeable future By refusing to classify F1 as a sport, the GoI made it subject to all taxes. Now we can suffer at leisure. i do not see F1 coming back in a hurry.
	() Thanks