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GST Council fixes 28% uniform tax rate for lottery


GST Council fixes 28% uniform tax rate for lottery

 


The Goods and Services Tax or GST Council has fixed a uniform tax rate of 28% on both state-run and private lottery. The new rate for the lottery will be effective from March 2020.

The 38th GST Council was chaired by the Union Finance Minister Nirmala Sitharaman in New Delhi.

It also decided to rationalise the GST rate on woven and non-woven bags to 18%.

It was for the first time that the GST Council resorted to voting to decide on an issue as it fixed a uniform tax rate on both state and private lotteries.

The GST Council also decided to exempt upfront amount payable for long term lease of industrial and financial infrastructure plots by an entity having 20% or more ownership of Central or State Government.

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