Valuation of lottery supplies revised to a statutory proportion of ticket face value or notified price for GST purposes. Amendment to rule 31A substitutes sub rule (2) to deem the value of supply of lottery as a statutory proportion of the face value of the ticket or the price notified by the Organising State, whichever is higher, and explains that 'Organising State' bears the meaning given in the Lotteries (Regulation) Rules, 2010; the amendment is effected under the Punjab GST rule making power and made effective retrospectively from the stated commencement date.
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Provisions expressly mentioned in the judgment/order text.
Valuation of lottery supplies revised to a statutory proportion of ticket face value or notified price for GST purposes.
Amendment to rule 31A substitutes sub rule (2) to deem the value of supply of lottery as a statutory proportion of the face value of the ticket or the price notified by the Organising State, whichever is higher, and explains that "Organising State" bears the meaning given in the Lotteries (Regulation) Rules, 2010; the amendment is effected under the Punjab GST rule making power and made effective retrospectively from the stated commencement date.
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