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What is the uniform GST rate that has been fixed up for lottery prizes by the GST Council?
28%
18%
10%
32%
- The Goods and Services Tax (GST) Council is responsible for making GST-related decisions in India.
- 28% GST: The GST Council has levied a uniform rate of 28% on lottery prizes, regardless of the location.
- 18% GST: Typically applicable on standard goods and services, but not on lotteries.
- 10% GST: Not a standard rate applied in the context of the GST regime for lotteries.
- 32% GST: This is not a recognized rate for GST in the current framework for lotteries.
The correct answer is:
- Option 1: 28%
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