AAAR: Prize money received from horse-race clubs not liable to GST absent supply element, sets-aside AAR

Maharashtra AAAR sets-aside AAR order, holds that receipt of prize money/stakes from horse-race clubs (in the event horse wins the race) would not be subject to GST; Observing that, there are two separate transactions (i) participation in races organized by horse racing clubs against entry fee payable by the horse race owner which is supply of service by race conducting entity to such aspiring horse race owners (ii) supplying of horses for the event, delineates in detail how ...