Amendment to Central Goods and Services Tax Rules, 2017
Introduction of Amendment Rules:
Amendment titled "Central Goods and Services Tax (Second Amendment) Rules, 2020."
Effective from the date of publication in the Official Gazette.
Change in Rule 31A:
Effective from March 1, 2020.
Substitutes sub-rule (2) regarding the value of supply of lottery.
Deemed Value of Lottery Supply:
Deemed value set at 100/128 of the face value of ticket or price notified by the Organizing State, whichever is higher.
Explanation of "Organizing State":
Term defined as per clause (f) of sub-rule (1) of rule 2 of the Lotteries (Regulation) Rules, 2010.
Objective of Amendment:
Ensures uniform valuation methodology for lottery supplies.
Enhances clarity and compliance in the lottery sector.
Compliance Deadline:
Registered entities to adhere to the amended rules from the specified effective date.
Pramod Kumar, Director, Government of India