Get App
Last Updated : Jan 16, 2019 07:42 PM IST | Source: Moneycontrol.com

Maharashtra FM-led GoM to look at issues related to lottery under GST

Under GST, state-organised lottery falls under the 12 percent tax slab while state-authorised lottery attracts 28 percent tax.

A ministerial panel headed by Maharashtra Finance Minister Sudhir Mungantiwar will examine uniformity of taxation on lottery under GST or other issues arising out of it.

The Group of Ministers (GoM) comprising Kerala finance minister TM Thomas Isaac, Amit Mitra, West Bengal Finance Minister, Assam Finance Minister Himanta Biswa Sarma, Mauvin Godinho, Minister of Panchayat, Goa, Punjab Finance Minister Manpreet Singh Badal, Krishna Byre Gowda, Karnataka Finance Minister, and Jarkar Gamlin, taxes and excise minister of Arunachal Pradesh has been constituted.

Under GST, state-organised lottery falls under the 12 percent tax slab while state-authorised lottery attracts 28 percent tax.

Close

In the GST Council meeting on December 22, Finance Minister Arun Jaitley had said a final view will be taken in January if status quo should continue on GST on lottery or if there it could be tweaked. However, in the next Council meeting on January 10, Jaitley said that a GoM will be constituted to take a final call on the issue.

According to the terms of reference, the panel will decide whether the disparity in tax structure on the same product needs be continued or a uniform rate be prescribed for both, the finance ministry said in a statement.

"Whether private persons authorised by the states are misusing the lower rate and getting enriched themselves at the cost of the state and suggest measures to curb it," the statement said.

The panel will also examine any other issue related to enforcement, including the legal frame work, in order to curb evasion of tax on lottery and suggest appropriate tax rate to address the problem.

The GoM for lottery will submit its report to GST Council in next its meeting for approval.

LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.
First Published on Jan 16, 2019 07:42 pm
Loading...
Follow us on
Available On