Government set to tax F1 race equipment!

In what may seem like a bizarre move, Customs Department wants the organizers of the first ever Formula 1 race in India, to pay Rs. 600 crore as custom duty, for the equipment, which would in India for just a few days!

This comes as the Government has refused to accept F1 as sport, even though the motorsports association is an recognized sports body in India!

Of course the custom department is saying that once the equipment is flown out of India, it will refund the money, minus 2% (only Rs. 12 crore)!

This also comes on the backdrop of India losing the honor of hosting the hockey world cup later this year, thanks to two hockey associations claiming to represent India and wanting to be the sole organizer!

I surely hope that the same does not becomes the fate of the first Forumla 1 race in India, which many enthusiasts are hoping, would reignite the craze of motorsports in India and lead to more tracks being constructed throughout the country.


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