Valuation of lottery tickets revised to deemed proportion of face value or notified price, whichever higher for GST purposes. The value of supply of lottery is deemed to be a specified proportion of the face value of the ticket or of the price as notified in the Official Gazette by the Organising State, whichever is higher, with Organising State defined by reference to the Lotteries (Regulation) Rules, 2010. This substituted provision revises the GST valuation approach for lotteries under the principal rules and took effect from the operative date stated in the amendment.
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Valuation of lottery tickets revised to deemed proportion of face value or notified price, whichever higher for GST purposes.
The value of supply of lottery is deemed to be a specified proportion of the face value of the ticket or of the price as notified in the Official Gazette by the Organising State, whichever is higher, with Organising State defined by reference to the Lotteries (Regulation) Rules, 2010. This substituted provision revises the GST valuation approach for lotteries under the principal rules and took effect from the operative date stated in the amendment.
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