GST Council fixes 28% tax rate on lottery

The Goods
and Services Tax, GST Council approved to increase the rate for lotteries. A
single GST rate of 28% will be imposed on state-run and private lotteries.

Revenue
Secretary Ajay Bhusan Pandey said, the council has decided to rationalise GST
rate on Oven and Non-Oven Bags to 18%. The rates on lottery and oven and
non-oven bags will be effective from 1st March next year.

The Revenue
Secretary says, states made representations on revenue augmentation, rate
structure and compensation needs of states.

The GST
council also decided to free from upfront amount payable for long term lease of
industrial and financial infrastructure plots by an entity having 20% or more
ownership of Central or State Government.

Presently
the exemption is available to an entity having 50% or more ownership. It will
be effective from 1st of next month.