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gst on lottery
gst is proposed to be levied on face value of lottery ... does it mean gst vl be levied on sale amount of lottery ??
Replies (2)
It has been decided that supply of lottery shall attract GST rates as under – 1. Lottery run by State Governments – 12% of face value of lottery ticket 2. Lottery authorized by State Governments – 28% of face value of lottery ticket.sale value can be less than face value it is sold at discounted prices.so tax shall be charged at face value.
Wat does face value consist of ?
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