https://www.taxtmi.com/article/detailed?id=8213 A lottery ticket confers transferable beneficial interests-an immediate right to participate and a contingent prize claim-that constitute an actionable claim and thereby fit within the inclusive notion of goods. Schedule III excludes actionable claims except lotteries, betting and gambling, so lotteries remain within the GST scope; the constitutional definition of goods permits such classification, and the GST legislative and valuation provisions provide the basis for taxing lotteries. Differential rates for State-run and State-authorised lotteries rest on GST Council recommendations and legislative classification. en-us Mon, 22 Oct 2018 10:11:08 +0530 Mon, 22 Oct 2018 10:11:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8213 A lottery ticket confers transferable beneficial interests-an immediate right to participate and a contingent prize claim-that constitute an actionable claim and thereby fit within the inclusive notion of goods. Schedule III excludes actionable claims except lotteries, betting and gambling, so lotteries remain within the GST scope; the constitutional definition of goods permits such classification, and the GST legislative and valuation provisions provide the basis for taxing lotteries. Differential rates for State-run and State-authorised lotteries rest on GST Council recommendations and legislative classification. Articles Goods and Services Tax - GST Mon, 22 Oct 2018 10:11:08 +0530 https://www.taxtmi.com/article/detailed?id=8213