Notification no 08/2020 Central Tax date on 2nd March, 2020, GST
seeks to "Amend the CGST Rules, 2017 to prescribe the value of Lottery"
The extract of GST Notification No. 08/2020- Central Tax is given below:
Notification No. 08/2020- Central Tax, GST
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]
Government of India
Ministry of Finance
(Department of Revenue)
Central Board of Indirect Taxes and Customs
Notification No. 08/2020 – Central Tax
New Delhi, the 2nd March, 2020
G.S.R……(E). - In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-
- (1) These rules may be called the Central Goods and Services Tax (Second Amendment) Rules, 2020.
(2) Save as otherwise provided in these rules, they shall come into force on the date of their publication in the Official Gazette.
- In the Central Goods and Services Tax Rules, 2017, with effect from the 1st March, 2020, in rule 31A, for sub-rule (2), the following sub-rule shall be substituted, namely:-
“(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.”.
[F. No. 20/06/03/2020 – GST]
(Pramod Kumar)
Director, Government of India
Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide notification No. 3/2017-Central Tax, dated the 19th June, 2017, vide number G.S.R. 610 (E), dated the 19th June, 2017 and last amended vide notification No. 02/2020 - Central Tax, dated the 01st January, 2020, published vide number G.S.R. 4 (E), dated the 01st January, 2020.
Learn Exports Imports Free, Click here
Click here to know GST rate of your goods or service
Impact of GST on imports in India
Applicable import duty after GST implimentation
How to calculate IGST under imports?
Changes in IEC after GST
Linking IEC with GSTIN in customs
Migration of existing taxpayers under GST
Meaning of Merchant Overtime charges (MOT) under GST
Meaning and scope of supply under GST
Term All Industry Rate (AIR) under GST
What is Threshold limit under GST
Zero rated supply, section 16 of IGST Act,2017
section 14 of IGST Act,2017, Special provision for payment of tax by a supplier
Section 59 of CGST Act, 2017 Self-assessment
Difference between IGST on International goods and IGST on domestic goods.
How is IGST calculated under Imports?
How is IGST rate on imports treated?
GST and e-Commerce Business, FAQ
Who can inspect import cargo in US
Who decides shipping carrier on FOB shipments
Options under central excise clearance
Packing of export goods - How important in International business?
Parties in LC
Payment procedures in Triangular exports
Payment terms
POD Proof of Delivery – How important in Imports
Post export incentives
How to send export samples to foreign buyer? Tips to send samples to foreign buyer
Why prefer exports?