CA Amit Harkhani
Quick Summary
Explanation of Notification No. 01/2020 Dt. 21.02.2020 of Central Tax (Rate). Such Notification is Deal with GST Rate on Supply of Lottery. A) What is Lottery Tickets:- Lottery tickets, is actionable claim and is classified as Goods, under GST. However as per Schedule III Actionable Claim
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FAQ :
Lottery tickets are classified as 'Goods' under GST, and their sale is considered a supply of taxable goods attracting GST.
After Notification No. 01/2020, a uniform GST rate of 28% applies to all lottery tickets, regardless of whether they are run by or authorised by state governments.
The value of supply is deemed to be 100/128 of the face value of the ticket or the price notified in the Official Gazette by the organising state, whichever is higher.
The sale of lottery tickets is covered under the Tax Invoice rules as per Section 31 of the CGST Act, 2017, and must meet all requirements mentioned in Rule 46.
The time of supply is the earlier of the date of invoice issuance (or the last date required to issue one) or the date the supplier receives payment for the supply.
For lotteries run by a state government, it's always an intra-state supply within that state. For lotteries authorised by a state government but conducted by agencies, it can be inter-state or intra-state, determined by the movement of goods or location of goods at delivery.
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