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For tickets costing Rs 251–350, government will charge 49.5 per cent entertainment tax. For tickets priced at Rs 351–500, the new tax will be 51.75 per cent, while tickets costing Rs 500 and above will attract 54 per cent tax. Maharashtra has 64 multiplexes. The state is expected to get additional revenue of Rs 30 crore in its coffers. [7]
The purchase of lottery tickets cannot be accounted for by decision models based on expected value maximization. The reason is that lottery tickets cost more than the expected gain, as shown by lottery mathematics, so someone maximizing expected value would not buy lottery tickets. People buy lottery tickets anyway, either because they do not ...
The system of Value Added Tax (VAT) has been implemented, in the State of Maharashtra, w.e.f. 1 April 2005. Every dealer, who becomes liable to pay tax under the provisions of MVAT, shall apply electronically for registration, within 30 days from the date of such liability. VAT is implemented by Department of Sales Tax.
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When the state lottery was started in 1967, the total revenue from sales was only Rs 20 lakh. The profit alone touched Rs 625.74 crore in 2009-2010 and Rs 557.69 crore in 2010-2011. The department now boasts of more than 35,000 authorized agents and over 100,000 retail sellers. [17]
The Mega Millions jackpot winner could either take the cash payout of $549.7 million or the $1.22 billion annuity paid out over 30 years.
If you got paid for selling event tickets in 2024, then that income will have to be reported on your 2024 tax return next year, even if the sales took place in 2023.
The Ministry of Revenue is a ministry of the Government of Maharashtra. It is responsible for preparing annual plans for the development of Maharashtra state. [1] [2] The ministry is headed by a Cabinet level by Chandrashekhar Bawankule, current minister of revenue.