https://www.taxtmi.com/acts?id=31770 Value of supply for lottery, betting, gambling and horse racing is governed by a special valuation rule overriding the general provisions of the Chapter. Lottery supply is deemed to be 100/140 of the face value of the ticket or the price notified in the Official Gazette by the Organising State, whichever is higher. In betting, gambling, or horse racing in a race club, the value is 100% of the face value of the bet or the amount paid into the totalisator. The explanation adopts the meaning of "Organising State" from the Lotteries (Regulation) Rules, 2010. en-us Wed, 24 Jan 2018 11:06:59 +0530 Sat, 27 Jun 2026 13:28:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31770 Value of supply for lottery, betting, gambling and horse racing is governed by a special valuation rule overriding the general provisions of the Chapter. Lottery supply is deemed to be 100/140 of the face value of the ticket or the price notified in the Official Gazette by the Organising State, whichever is higher. In betting, gambling, or horse racing in a race club, the value is 100% of the face value of the bet or the amount paid into the totalisator. The explanation adopts the meaning of "Organising State" from the Lotteries (Regulation) Rules, 2010. Act-Rules GST Wed, 24 Jan 2018 11:06:59 +0530 https://www.taxtmi.com/acts?id=31770