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of <h1>Punjab GST Rules Amended: Lottery Supply Valuation Now 100/128 of Ticket Face Value or Notified Price.</h1> The Punjab Goods and Services Tax (Second Amendment) Rules, 2021, issued by the Government of Punjab, amends the Punjab Goods and Services Tax Rules, 2017. Effective retroactively from March 2, 2020, the amendment modifies rule 31A, sub-rule (2), concerning the valuation of lottery supplies. The new rule stipulates that the value of a lottery supply is considered to be 100/128 of the ticket's face value or the price notified by the Organising State in the Official Gazette, whichever is higher. The term 'Organising State' is defined as per the Lotteries (Regulation) Rules, 2010.
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