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is there tax on lottery tickets

deltin33 3 min. ago views 993

In India, lottery tickets are subject to taxation under the Goods and Services Tax (GST) regime. The GST rate on lottery tickets varies depending on the type. For state-run lotteries, the tax is 12%, while for state-authorized lotteries, it is 28%. This tax is applied to the face value of the ticket, and it is collected by the sellers at the point of sale. Additionally, any winnings from lotteries are also taxable under the Income Tax Act, with a flat rate of 30% plus cess, which must be deducted at source if the prize exceeds a specified limit. These taxes help fund various government schemes and public welfare programs across the country.
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