Finding the elusive fortune in India’s lottery may now come with a heavy price tag starting July 1.
The Indian government is now mulling putting lottery tickets in the 28 percent goods and services tax (GST) bracket, the highest tax category in the country.
Citing anonymous sources, The Economic Times of India reported that the proposed tax on the US$7.78 billion lottery business will be up from minimal or zero tax levied by about a dozen states that have lotteries.
Those state governments include Sikkim, Punjab, Goa, Maharashtra and Kerala. The Modi administration is looking to tax the ‘face value’ of the lottery, something Playwin President Rahul Tangri finds unfair.