Service tax for selling and distribution of lottary
This query is : Resolved
30 October 2012
Dear all,
Service tax for the distributor or selling agent of lottary services is calculated on the basis of the lottary scheme,where the 'guaranteed prize payout' is more or less than 80%.What is the meaning of the term 'guaranteed prize payout'? How do we calculate service tax for such services?
Service tax for the distributor or selling agent of lottary services is calculated on the basis of the lottary scheme,where the 'guaranteed prize payout' is more or less than 80%.What is the meaning of the term 'guaranteed prize payout'? How do we calculate service tax for such services?
Arun Kumar Singh
(Expert)
30 October 2012
selling or marketing agent of lottery tickets to a distributer or a selling agent is exempt from service tax under sub clause 29(e) of notification no. 25/2012-ST.
30 October 2012
Sir,
Is the distributor or selling agent liable to pay service tax?
Is the distributor or selling agent liable to pay service tax?
Arun Kumar Singh
(Expert)
30 October 2012
No need to pay service tax.
30 October 2012
But,Budget 2010-11 had introduced service tax levy on the services of promoting, marketing, or organising of games of chance, including lottery.
Under the composition scheme, a distributor or lottery selling agent who is liable to pay service tax, can opt to pay flat service tax of Rs 6,000 on every Rs 10 lakh of aggregate face value of lottery tickets printed by the organising State for a draw. This rate will apply in those lottery schemes where the guaranteed prize payout is more than 80 per cent,
Under the composition scheme, a distributor or lottery selling agent who is liable to pay service tax, can opt to pay flat service tax of Rs 6,000 on every Rs 10 lakh of aggregate face value of lottery tickets printed by the organising State for a draw. This rate will apply in those lottery schemes where the guaranteed prize payout is more than 80 per cent,
Arun Kumar Singh
(Expert)
30 October 2012
now this service is under negative list of mega exemption notification no. 25/2012-ST dated 20.06.2012.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Taxation of crypto futures in India Fy 2026- 2027
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
