Rules Rule 31A of CGST Rules 2017 i.e. Value of supply in case of lottery, betting, gambling and horse racing
Financial Year: 2017
Rule 31A of CGST Rules
Value of supply in case of lottery, betting, gambling and horse racing
(1) Notwithstanding anything contained in the provisions of this Chapter,
the value in respect of supplies specified below
shall be determined in the manner provided hereinafter.
(2) (a) The value of supply of lottery
run by State Governments
shall be deemed to be
100/112 of the face value of ticket or
of the price as notified in the Official Gazette by the organising State,
whichever is higher.
(b) The value of supply of lottery
authorised by State Governments
shall be deemed to be
100/128 of the face value of ticket or
of the price as notified in the Official Gazette by the organising State,
whichever is higher.
Explanation:– For the purposes of this sub-rule, the expressions-
(a) “lottery run by State Governments” means a lottery not allowed to be sold in any State other than the organizing State;
(b) “lottery authorised by State Governments” means a lottery which is authorised to be sold in State(s) other than the organising State also; and
(c) “Organising State” has the same meaning as assigned to it in clause (f) of sub-rule (1) of rule 2 of the Lotteries (Regulation) Rules, 2010.
(2) The value of supply of lottery
shall be deemed to be
100/128 of the face value of ticket or
of the price as notified in the Official Gazette by the Organising State,
whichever is higher.
Explanation:–
For the purposes of this sub-rule, the expression:-
Organising State has the same meaning as assigned to it
in clause (f) of sub-rule (1) of rule 2 of the Lotteries (Regulation) Rules, 2010.
(3) The value of supply of actionable claim in the form of chance to win in betting, gambling or horse racing in a race club
shall be 100% of the face value of the bet
or the amount paid into the totalisator.
Thanks
CA Rahul Gupta