Maharashtra Appellate Authority has held that receipt of prize money won in horse races awarded by clubs such as Royal Western Turf Clubwill not be subject to GST in the hands of owner. The AAAR also held that since there will no GST on prize money, input tax credit would not be available for GST borne on ‘input supplies’ such asentry fees, training charges paid to horse trainers,remuneration paid to jockeys, to name a few.
Earlier ruling set aside, prize money from horse racing is not subject to GST in owner’s hand
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