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Ind AS 117 – Insurance Contracts
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December 2010

Persons marketing lottery tickets exempted — Notification No. 50/2010-ST, dated 8-10-2010.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Brijesh Cholera, Pratik Mehta | Chartered Accountants
Sejal Vasa | Company Secretary

Reading Time 1 mins

New Page 1

Part B : INDIRECT TAXES

SERVICE TAX UPDATE

23. Persons marketing lottery tickets exempted — Notification
No. 50/2010-ST, dated 8-10-2010.

Persons appointed or authorised by the lottery organising
State for marketing lottery tickets, would be exempted from service tax if the
distributor or selling agent avails of optional composition scheme notified vide
Notification No. 49/2010-ST, dated 8-10-2010 in respect of such lottery during
the financial year.

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