Earlier ruling set aside, prize money from horse racing is not subject to GST in owner’s hand

MUMBAI: Maharashtra’s Appellate Authority for Advance Ruling (Appellate AAR) has held that receipt of prize money from horse races, awarded by clubs such as Royal Western Turf Club, will not be subject to Goods and Services Tax (GST) in the hands of the owner.  This appellate order will gladden the hearts of race-horse owners and may also set to rest any disputes in this regard. While rulings…