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Business Economy


RETAIL-LOTTERY-GST

Federation of Lottery Trade & Allied Industries urge Govt to levy taxes on 'margin' money
Mumbai, Jun 23 (UNI) The All India Federation of Lottery Trade & Allied Industries has urged the central government to levy taxes on the 'margin' money, instead of the face value of the lottery ticket, as people buying lottery tickets may have to spend 28 per cent more under the Goods and Services Tax (GST), which is
expected to be rolled out on July 1.
As the government is looking to put lottery tickets in the 28 per cent GST bracket, the highest slab, that’s up from minimal or zero tax levied by about a dozen states that have lotteries, people familiar with the matter said.
In the states like Sikkim, Punjab, Goa, Maharashtra and Kerala, they are either run by these state governments or external parties, a release said here.
"GST should only be levied on the operators’ margin. The prize money part comes under direct tax (income tax paid by the winner)," the AIFLTAI has suggested to the government.
It further said that as many of the lottery operators are from the Handicapped category who support their families by selling lotteries, their only source of income will be impacted and they will be rendered unemployed.
It is estimated that more than 25 lakh people’s livelihood will be affected directly or indirectly due to GST, the release added.
UNI JM SS SM1906
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Chinese Tech Unicorn APUS launches newly developed apps in India

20 Mar 2019 | 9:07 PM

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Indian Oil to establish six electric charging stations in J&K

20 Mar 2019 | 8:58 PM

Jammu, Mar 20 (UNI) Indian Oil Corporation Limited on Wednesday agreed to establish six electric charging stations in the state of Jammu and Kashmir.

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Traders not suffering from GST; willing to adopt in cohesive manner: CAIT

Traders not suffering from GST; willing to adopt in cohesive manner: CAIT

20 Mar 2019 | 8:37 PM

New Delhi, Mar 20 (UNI) Traders are not annoyed with Goods and Services Tax (GST) but rather more willing to adopt it in a cohesive manner, stated CAIT National Secretary General Praveen Khandelwal on Wednesday.

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Retail industry emerging as dynamic industry having positive impact on hiring: Experts

20 Mar 2019 | 7:02 PM

New Delhi, Mar 20 (UNI) The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players, experts associated with the sector have said.

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D Raju elected as Chairman of CII Telangana for 2019-20

20 Mar 2019 | 6:41 PM

Hyderabad, Mar 20 (UNI) Mr D Raju, CEO & Managing Director of Kirby Building Systems & Structures India Private Limited WAS elected as the Chairman of CII Telangana for the financial year 2019-20 at its Annual meeting held here on Wednesday.

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