Dear All,
Kindly advice me, Whether Service Tax Applicable on the Horse owner , who received the share of wining from race club. total amount of winning received durig 2014 - 15 was more then 15 lakh.
Please reply me urgentlly.
Regards :
TRILOCHAN
TRILOCHAN (SENIOR ACCOUNTANT) (698 Points)
17 January 2015Dear All,
Kindly advice me, Whether Service Tax Applicable on the Horse owner , who received the share of wining from race club. total amount of winning received durig 2014 - 15 was more then 15 lakh.
Please reply me urgentlly.
Regards :
TRILOCHAN
CA Sandeep Biradar
(CA Practice)
(42 Points)
Replied 17 January 2015
Dear Trilochan,
As per my understanding, since you mentioned the person as "Horse Owner", the amount receivd must be against the supply of horse for particiating/performing in the horse races. So, lets not call this as "Winning from horse races". To me the service sounds like "Supply of horse" to participate in the horse races.
With the introduction of "Negative List" all sorts of services have been made taxable, so in my opinion the service in question will also be a taxable service since turnover exceeds Rs.10 lacs in a year.
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