Optional fixed rate service tax for lottery distributors: choice to pay prescribed lump sum per draw amount with an annual irrevocable election. The amendment inserts sub rule (7C) permitting a distributor or selling agent of lottery services to opt to pay a prescribed lump sum amount per specified aggregate face value of tickets for a draw instead of service tax at the rate under section 66; two rate tiers are prescribed based on the lottery's guaranteed prize payout, online lotteries use aggregate tickets sold, and the annual option must be exercised within one month of the financial year's start and is irrevocable for that year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Optional fixed rate service tax for lottery distributors: choice to pay prescribed lump sum per draw amount with an annual irrevocable election.
The amendment inserts sub rule (7C) permitting a distributor or selling agent of lottery services to opt to pay a prescribed lump sum amount per specified aggregate face value of tickets for a draw instead of service tax at the rate under section 66; two rate tiers are prescribed based on the lottery's guaranteed prize payout, online lotteries use aggregate tickets sold, and the annual option must be exercised within one month of the financial year's start and is irrevocable for that year.
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