Dhanvarsha is a lottery, authorized on 21 March, 2020 by the Rajasthan Government having face value of the ticket of ₹500 each. The draw of the lottery is scheduled to be held on the occasion of Diwali festival in Novemb
CS Executive · Tax Laws · PYQS · December 2020
Dhanvarsha is a lottery, authorized on 21 March, 2020 by the Rajasthan Government having face value of the ticket of ₹500 each. The draw of the lottery is scheduled to be held on the occasion of Diwali festival in November, 2020. The value of supply of one lottery ticket under Rule 31A of the CGST Rules, 2017 shall be taken at ₹ __________ when the price of each of the ticket as notified in the Official Gazette by the Rajasthan Government is of ₹385.
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: GST
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