https://www.taxtmi.com/article/detailed?id=10012 Prize or grant receipts awarded to event winners lack a direct and immediate nexus to participation and therefore do not constitute consideration for a supply under GST; such prize money is not taxable as a supply and recipients are not entitled to input tax credit for those receipts. An appellate authority applying this principle in the context of horse-racing held that only winning owners receive prize money, so no supply arises from their participation. Divergent rulings on betting and commission-based taxation underscore the need for administrative clarification. en-us Sat, 18 Sep 2021 11:03:29 +0530 Sat, 18 Sep 2021 11:03:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10012 Prize or grant receipts awarded to event winners lack a direct and immediate nexus to participation and therefore do not constitute consideration for a supply under GST; such prize money is not taxable as a supply and recipients are not entitled to input tax credit for those receipts. An appellate authority applying this principle in the context of horse-racing held that only winning owners receive prize money, so no supply arises from their participation. Divergent rulings on betting and commission-based taxation underscore the need for administrative clarification. Articles Goods and Services Tax - GST Sat, 18 Sep 2021 11:03:29 +0530 https://www.taxtmi.com/article/detailed?id=10012