Time of supply for vouchers removed, altering tax timing for voucher transactions under GST regime. Clause 117 deletes sub-section (4) of section 12, removing the bespoke time of supply rule for voucher transactions by declaring such transactions neither supply of goods nor supply of services, thereby necessitating reliance on general time of supply principles and supply classification to determine tax timing.
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Time of supply for vouchers removed, altering tax timing for voucher transactions under GST regime.
Clause 117 deletes sub-section (4) of section 12, removing the bespoke time of supply rule for voucher transactions by declaring such transactions neither supply of goods nor supply of services, thereby necessitating reliance on general time of supply principles and supply classification to determine tax timing.
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