Deemed value of supply of lottery to be higher of 100/128 of face value of tickets/ price notified by Organising State
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
New Delhi, the 2nd March, 2020
G.S.R. 147(E).—In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following rules further to amend the Central Goods and ServicesTax Rules, 2017, namely:-
1. (1) These rules may be called the Central Goods and Services Tax (Second Amendment) Rules, 2020.
(2) Save as otherwise provided in these rules, they shall come into force on the date of their publication in the Official Gazette.
2. In the Central Goods and Services Tax Rules, 2017, with effect from the 1st March, 2020, in rule 31A, for sub-rule (2), the following sub-rule shall be substituted, namely:-
“(2) The value of supply of lottery shall be deemed to be 100/128 of the face value of ticket or of the price as notified in the Official Gazette by the Organising State, whichever is higher.
Explanation:–For the purposes of this sub-rule, 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.”. [F. No. 20/06/03/2020 –GST]
PRAMOD KUMAR, Director
Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide notification No. 3/2017-Central Tax, dated the 19th June, 2017, vide number G.S.R. 610(E), dated the 19th June, 2017 and last amended vide notification No. 02/2020 -Central Tax, dated the 01st January, 2020, published vide number G.S.R. 4(E), dated the 01st January, 2020. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.
Change in the constitution of Appellate Authority for CAs CSs and Cost Accountants In 2015, the Ministry of Corporate Affairs…
Trade Tax Department was unjustified in retaining refund beyond stipulated period and adjusting it against default notices issued subsequently. In…
Notice issued u/s 143(2) prior to filing of return of income by the assessee was invalid. Before filing ITR provisions…
Order u/s 148A(d) passed against non-existent entity is bad in eyes of law. Mere activation of PAN not give right…
Tax authorities not bound with provisions of section 44AE of the Act once assessee waived the option available In a…
Whether seized document is incriminating or not is definitely a findings of fact – High Court In a recent judgment,…