How much tax you will pay on lottery tickets, these ministers will decide

By: | Updated: January 16, 2019 7:18 PM

With an aim to address the disparity on tax structure, a Group of Ministers (GoM) on issues related to lottery has been constituted on Wednesday.

big news for nps accountholders now make partial withdrawal even after 3 yearsThe GoM would submit its report in the next GST Council meeting. (PTI)

With an aim to address the disparity on tax structure, a Group of Ministers (GoM) on issues related to lottery has been constituted on Wednesday. The group will decide if the disparity existing on tax rates on lottery will continue or an uniformity be reached. In the last Goods and Services Tax (GST) Council meeting held on January 10, a decision on rationalisation or reduction of tax on state lotteries marketed and sold through private distributors couldn’t be taken.

GoM will also see if “private persons authorised by the States are misusing the lower rate and getting enriched themselves at the cost of the State and suggest measures to curb it.” The group will also examine the other issues related with the  enforcement including the legal frame work, so as to prevent evasion of tax on lottery and suggest appropriate tax rate to address the problem.

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The GoM would submit its report in the next GST Council meeting.

The ‘GoM for Lottery’ consists Finance Ministers of the following states: Sudhir Mungantiwar, Maharashtra; T M Thomas Isaac Finance Minister, Kerala; Amit Mitra, West Bengal; Himanta Biswa Sarma, Assam; Mauvin Godinho, Goa; Manpreet Singh Badal, Punjab; Krishna Byre Gowda, Karnataka and Jarkar Gamlin Minister, Arunachal Pradesh.

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