Get to know about the steps of the GST registration process
29 Jul, 2024
Lottery Tickets come under the category of ‘actionable ticket’ and that’s why are considered as ‘Goods’ under the GST regime. The selling of lottery tickets comes under the supply of taxable goods and therefore, GST is levied on the sale of lottery tickets.
Earlier, there used to be separate rates for lotteries sold in our country. Let us look at the rates-
Nonetheless, after a new notification from the 31st GST Council Meeting, the uniform GST rate for the lottery has been notified as 28% for all kinds of lottery tickets sold in India.
The supply of lottery is covered by Tax Invoice which includes all the necessary provisions and invoicing standards for a lottery ticket manufacturer cannot be relaxed.
1) Date of issuing the invoice or last date to issue an invoice.
2) Date of receiving the supply payment.
If a person or consumer pays the sum for a draw or purchases a lottery ticket, supply payment is the money paid.
Place of Supply of Lottery Tickets
1) Lottery run by State Government- is intra-state always. The place of supply will be the State that runs the lottery game.
2) Lottery authorized by the State Government-but conducted by agencies can be regional or intra-state supply.
How can we help you?
Get GST registration done by a plethora of lottery agencies at Online Legal India™ with ease and no hassle at all. The GST experts provide all-round assistance to the clients and the charges are unbelievably low. Not just that, you can also avail of services like GST return filing, Trademark Registration, Company Registration, and many more from this platform.
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