Page 2 - Lottery

GST Council defers tax on casinos, lottery; GoM to re-deliberate by July 15

The GoM will have to submit report by July 15 and then the Council will meet either on August 1 or in the first week of August, says FM Sitharaman

Top headlines: GST on casinos deferred; marketing freedom to oil producers

Briefing reporters about deliberations at the two-day meeting of the GST Council, Finance Minister Nirmala Sitharaman said finance and other ministers of 16 states spoke on the compensation issue

Govt's monthly GST lottery scheme to curb tax evasion to begin from April 1

Under the scheme, the revenue department will conduct monthly lucky draws which will have one bumper prize, while there would be second and third prizes state wise

Centre approves levy of 28% GST on lotteries from March 1, rate notified

The revenue department notified the GST rate on supply of lotteries and amended its earlier Central Tax (Rate) notification

Govt likely to introduce lottery system to boost GST compliance soon

Winning amount may range from Rs 10 lakh to Rs 1 crore

In a first, GST Council votes to tax lotteries at uniform rate of 28%

All the earlier decisions by the Council had been taken through consensus

GST Council meeting likely to witness a heated debate over lottery rates

Centre will push for single rate; Kerala wants to retain current dual structure

Kerala govt opposes Finance Ministry's plan to hike lottery rate to 28%

The rate for lottery tickets in Kerala, where the business is run by the state government, has been at 12%

Kerala govt for new law to protect lottery revenue

Existing regulation inoperative with GST roll out; state was hoping for Rs 7k cr from levy in 2017

Mistakenly sold lottery ticket earns couple $1 million

Castillo and his wife had the option of taking the $1 million prize or getting $1,000 a week for life