The apex body of Indian cricket governance, the Board of Control for Cricket in India (BCCI) has scheduled a workshop for the state associations to address various issues related to accounts.
Primarily focusing on GST implications for ticket sales and the avoidance of double taxation. This workshop is set to take place in Goa on September 25 following the Annual General Meeting (AGM).
Discussion on critical financial and regulatory matters
The workshop’s goal calls for talks on accounting procedures, the allocation of funds, and credits for TDS (Tax Deducted at Source) and interest. Jay Shah, the secretary of the BCCI, recently spoke with the state associations, highlighting the importance of their engagement in finding answers to these crucial financial and regulatory issues.
The GST on ticket sales issue will largely investigate the application of Goods and Services Tax (GST) on the sale of tickets, which is especially important considering the upcoming World Cup matches sponsored by 10 state associations.
State associations frequently host the IPL and other international games. And now they are all set to host the mega event of cricket, ODI World Cup 2023. According to BCCI sources, the organization’s finance department, secretary Jay Shah, and treasurer Ashish Shelar will all offer their perspectives on the nuances of this situation.
A step to solve pending contractual disputes
Shah provided more information on the other subjects on the agenda, adding that the conversation about accounting practices will center on the strategies used by the BCCI and state associations to ensure transparent funding sourcing and utilization.
To cut costs associated with compliance and avoid double taxation, the money distribution theme seeks to simplify the procedure for allocating funds between the BCCI and state associations.
The agenda also has a topic called “Credit for TDS and Interest,” which deals with giving state associations full TDS credit for disputes settled by the BCCI under the Vivad se Viswas Scheme 2020.
This programme, which is a feature of the Finance Ministry of the Indian Government, strives to successfully settle pending legal disputes involving the government and government-sponsored undertakings. The Union Finance Minister introduced the programme in the Union Budget for 2023–2024.
Stay updated with all the cricketing action, follow Cricadium on Facebook, Twitter, and Instagram
