Connect with us


Business

Government notifies 8-member committee to decide lottery GST rates; panel to submit report by next GST Council meeting

Published

on

Lottery industry crippled by GST

As reported by us earlier, the GST Council in its meeting on 10th January has recommended the formation of a Group of Ministers (GoM) panel to look into the differential GST rates on lottery tickets and tax issues arising from lottery sales.

According to media reports, the central government has now issued a statement that an eight member GoM headed by Maharashtra Finance Minister Sudhir Mungantiwar will look into taxation issues relating to the lottery industry.

-Scoring11 Fantasy Sport Games

The other members of the committee are West Bengal Finance Minister Amit Mitra; Kerala Finance Minister Thomas Isaac; Assam Finance Minister Himanta Biswa Sarma; Punjab Finance Minister Manpreet Singh Badal; Goa Panchayat Minister Mauvin Godinho; Karnataka Finance Minister Krishna Byre Gowda, Arunachal Tax and Excise Minister Jarkar Gamlin.

As per the Terms of Reference (ToR) for the GoM, the panel will see whether the dual tax structure for state authorised and state run lotteries can be continued or whether a uniform rate can be prescribed for both.

It would also suggest 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 GoM is also likely examine issues related to enforcement including the legal framework, so as to prevent evasion of tax on lottery and suggest appropriate tax rate to address the problem.

The committee is likely to submits its recommendations on whether a change is required in the present taxation structure for lotteries before the GST Council meets again.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *