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of <h1>Rule 31A: Valuation Changes for Lotteries, Betting, Gambling, and Horse Racing Under CGST Rules Explained</h1> Rule 31A of the Central Goods and Services Tax (CGST) Rules, introduced by notification no. 03/2018, outlines the valuation of supplies related to lotteries, betting, gambling, and horse racing. For lotteries run by state governments, the value is calculated as 100/112 of the ticket's face value or the price notified in the Official Gazette, whichever is higher. From February 2020, the valuation changed to 100/128. For betting, gambling, or horse racing, the value is the full face value of the bet or the amount paid into the totalisator.
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