Attention Kerala Lottery enthusiasts! Big setback as Rs 5000, Rs 1000 category winners will decrease

THIRUVANANTHAPURAM: The number of prizes and agent commission of regular lottery have been reduced to implement the 40 per cent GST rate. Out of the total prizes, 6500 were reduced. With this, the total prize money has been reduced by more than one crore rupees. Despite the introduction of the GST rate, the ticket price will remain unchanged. The GST rate of lottery, earlier 28 per cent, was increased to 40 per cent.

GST rates will come into effect from Monday. There were concerns about whether the ticket prices would increase when the GST rates were introduced. Many feared this would affect the lottery industry. To allay tensions, the number of prizes and commissions was reduced without increasing ticket prices. It is believed that this will not significantly affect the lottery business.

The first prize for the lottery ticket worth Rs 50 will remain unchanged. However, the number of winners for the Rs 5000 and Rs 1000 categories will be significantly reduced. In the Suvarna Keralam ticket drawn on Friday, 21,600 people won the prize of Rs 5000. From now on, only 20,520 people will get the prize of Rs 5000. 32,400 people would have won the prize of Rs 1000, but this was reduced to 27,000.

Following this change, there will be a reduction of Rs one crore eight lakhs from the prize money. That agent commission will also be reduced. If the agents were getting 12 per cent commission earlier, they would get only nine per cent from now on. The revised GST rate does not apply to the Onam bumper.