Taxability of prize money / winnings under GST
NITYA Tax Associates is proud to present their recent write-up in the ‘Article’ series on trending indirect tax issues.
Article 55 – “Taxability of prize money / winnings under GST”
Whether prize money is tax free or taxable? Is it a consideration for a service or an ex-gratia amount? Once a while, everyone has encountered this puzzle. While its taxability under Income Tax laws is relatively well known, its taxability under GST law still remains an unsettled matter. Through this article, our Partner, Mr. Deepak Suneja, Managing Associate, Ms. Aasmee Mangla and Associate, Mr. Shubham Agarwal have tried to decode taxability of prize money under GST.
Please click the below link to read our latest article titled “Taxability of prize money / winnings under GST“ on the issue.