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Composite Rate of Tax - Lottery

Composite Rate of Tax - Lottery - Service Tax - Abatement, Composite Rate of Tax, and Valuation Scheme for specified services - 104 - Composite Rate / Amount of Tax - Lottery Rule 6(7C) of Service Tax Rules, 1994 The lottery distributor or selling agent has two options to pay service tax for the taxable service of promotion, marketing, organizing or in any other manner assisting in organizing lottery under section 66B and rule 6(7C). OPTION A: under section 66B, pay service tax @ 14% on gross am .....

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tery tickets printed by the organising State for a draw If the lottery or lottery scheme is one where the guaranteed prize payout is less than 80% in case of online lottery, the aggregate face value of lottery tickets for the purpose of this sub-rule shall be taken as the aggregate value of tickets sold, and service tax shall be calculated in the manner specified in the said Table. Explanation.- For the purpose of this sub-rule- (ii) "draw" shall have the meaning assigned to it in clau .....

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