Quick Summary
Tax evasion by lottery distributors 12 cases of GST evasion of Rs. 344.57 crore detected and Rs. 621.56 crore recovered against lottery distributors between July, 2017 to November 2023 A reference was received from Ministry of Home Affairs (MHA) for comments regarding disbursement of prize amount of lotteries through formal banking channel and comments in this regard have been sent to MHA. This was stated by Union Minister of State for Finance Dr. Bhagwat Kisanrao Karad in a written reply
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FAQ :
Twelve cases of GST evasion totalling Rs 344.57 crore were detected against lottery distributors between July 2017 and November 2023.
Rs 621.56 crore, including interest and penalties, has been recovered from lottery distributors in relation to GST evasion.
Using formal banking channels for lottery prize disbursements helps mitigate risks associated with money laundering, terrorist financing, and proliferation funding due to the robust banking system and effective regulation.
Under Section 115BB of the Income-tax Act, lottery winnings are taxed at a flat rate of 30%, with no deductions allowed. This applies to winnings in cash, kind, or partly in cash and partly in kind.
The Income Tax Department conducts enquiries, search and seizure or survey actions, assessments, and consequential actions when credible information about violations of Direct Tax Laws comes to its notice.
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