Check sibling questions

In this case also, instead of normal service tax @ 14% on his commission, lottery ticket agent has the option to pay service tax  on face value (printed value) of lottery tickets.

Guaranteed Lottery payout

OLD RATE

NEW RATE

(From 1.6.15)

Effective Rate of  Swachh Bharat Cess

Effective Rate of

Krishi  Kalyan  Cess

Total  Rate of

Service  Tax

>80%

Rs 7000 on every 10 lacs

(or part of 10 lacs)

Rs 8200 on every 10 lacs

(or part of 10 lacs)

Rs 293 on every 10 lacs

(or part of 10 lacs)

Rs 293 on every 10 lacs

(or part of 10 lacs)

Rs 8786 on every 10 lacs

(or part of 10 lacs)

Upto 80%

Rs 11000 on every 10 lacs

(or part of 10 lacs)

Rs 12800 on every 10 lacs

(or part of 10 lacs)

Rs 457 on every 10 lacs

(or part of 10 lacs)

Rs 457 on every 10 lacs

(or part of 10 lacs)

Rs 13714 on every 10 lacs

(or part of 10 lacs)

 

In case of online lottery ,

the aggregate face value of lottery tickets will be the aggregate value of tickets sold.

 

Solve all your doubts with Teachoo Black (new monthly pack available now!)

CA Maninder Singh's photo - Co-founder, Teachoo

Made by

CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 12 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.