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GST rate amendment updates tax schedules, omits an existing entry and substitutes lottery classification affecting taxable treatment. The Government amends the earlier GST notification to omit a listed entry from Schedule II (6%) and to substitute the Schedule IV (14%) entry at S. No. 228 with a new entry covering Lottery described as 'Any chapter', effective from the first day of March, 2020.
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<h1>GST rate amendment updates tax schedules, omits an existing entry and substitutes lottery classification affecting taxable treatment.</h1> The Government amends the earlier GST notification to omit a listed entry from Schedule II (6%) and to substitute the Schedule IV (14%) entry at S. No. 228 with a new entry covering Lottery described as 'Any chapter', effective from the first day of March, 2020.