While every one is minting money with Indian Premier League (IPL), the union government may not be far behind. The Finance Ministry is considering getting BCCI, IPL and even team sponsors under the service tax net. In an internal letter, the CBEC has asked its officers to examine whether service tax applies to IPL teams, sponsorship and advertisements. The total tax liability could go up to as much as Rs 500 crore to Rs600 crore, payable over 10 years.
