In India, A Fixed Tax Rate Is Installed On Lottery
Taxes on goods and services of india (gst) recently established a single tax rate for lotteries. Now a new tax will be equal to 28% for all lottery tickets sold by agencies and operators who have a relevant license.
This solution helped to resolve the continuing dispute. Recently, gst considered the issue of establishing two different tax rates: for state lotteries – 12% and for private distributors – 28%. Many considered that such a decision does not comply with the constitutional standards, but the supreme court of calcutta recognized it legitimate.
Participants in the gembling market pushed to solve the establishment of a single rate, but gst did not express any interest in this isse. However, despite the fact that many gst representatives were against such a system, it was recently said that the decision was the most reasonable.
Recently, lottery revenues are reduced, and concern about the fact that taxes in this area are damaged by sales, grows. In this regard, many market participants insisted at reducing the tax rate to more acceptable.
Dried kumar modo, deputy chief minister, performed as the main supporter of the stabilization of tax rates. At the 92nd annual ficci conference, referring to representatives of different states of india, he said that the risk of raising tax rates was unlikely. He also clarified that the gst income is not stabilized, it is impossible to think about reducing rates.
Of the 28 states 21 voted for raising rates up to 28%, seven – against. The leader of the pwc praktik jane said that for the success of gwt, it is important that the states and the state in general worked together and made decisions based on a compromise.
Recall that in britain about 125 million pounds of sterling remained in the status of unclaimed winnings.