seeks to "Amend the CGST Rules, 2017 to prescribe the value of Lottery"

Last updated: 03 March 2020

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Quick Summary

This notification introduces an amendment to the Central Goods and Services Tax (CGST) Rules, 2017, specifically concerning the valuation of lottery supplies. Effective from 1st March 2020, the value of a lottery supply will be considered 100/128 of the ticket's face value or the price notified by the Organising State, whichever is greater. This amendment aims to standardise the prescribed value for lottery transactions.

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 08/2020 Central Tax New Delhi, the 2 nd March, 2020

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FAQ :

The main purpose is to amend the CGST Rules, 2017, to prescribe the value of lottery supplies.

This amendment comes into effect on the date of its publication in the Official Gazette, with specific changes to rule 31A effective from 1st March 2020.

The value of a lottery supply is now deemed to be 100/128 of the face value of the ticket or the price notified by the Organising State, whichever is higher.

The expression 'Organising State' has the same meaning as assigned to it in clause (f) of sub-rule (1) of rule 2 of the Lotteries (Regulation) Rules, 2010.

Rule 31A, specifically sub-rule (2), of the Central Goods and Services Tax Rules, 2017, is being amended.