28 per cent GST will be levied on lotteries from 1st March
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A 28 per cent Goods and Services Tax (GST) will be levied on lotteries from March 1, according to a notification. The GST Council had in December last year decided to impose a single rate of 28 per cent on state-run and authorised lotteries.
The revenue department notified the GST rate on supply of lotteries and amended its earlier Central Tax (Rate) notification.
Accordingly, the Central Tax rate for supply of lotteries has been amended to 14 per cent and a similar percentage will be levied by the states.
This will take the total GST incidence on lotteries to 28 per cent.
"This notification shall come into force on the 1st day of March, 2020," the revenue department notification said.
Currently, a state-run lottery attracts 12 per cent GST, while a state-authorised lottery attracts 28 per cent tax.
There were demands that a uniform tax rate should be imposed on lotteries following which a group of ministers were set up to suggest the GST rate. Following this, the GST Council in December voted for a single rate of 28 per cent on supply of lotteries. #casansaar (Source - PTI, Economic Times)
The revenue department notified the GST rate on supply of lotteries and amended its earlier Central Tax (Rate) notification.
Accordingly, the Central Tax rate for supply of lotteries has been amended to 14 per cent and a similar percentage will be levied by the states.
This will take the total GST incidence on lotteries to 28 per cent.
"This notification shall come into force on the 1st day of March, 2020," the revenue department notification said.
Currently, a state-run lottery attracts 12 per cent GST, while a state-authorised lottery attracts 28 per cent tax.
There were demands that a uniform tax rate should be imposed on lotteries following which a group of ministers were set up to suggest the GST rate. Following this, the GST Council in December voted for a single rate of 28 per cent on supply of lotteries. #casansaar (Source - PTI, Economic Times)
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