Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
The applicant purchases vouchers by paying consideration to the issuer and sells them to clients for consideration. The vouchers have value and ownership transferrable from issuer to applicant and then to ultimate beneficiary. No service element exists between issuer and applicant or applicant and purchaser. Vouchers qualify as movable property and goods. Actionable claims other than lottery, betting, and gambling are neither goods nor services supply under GST. The applicant is involved in trading vouchers for consideration in business, selling at profit. This transaction amounts to supply of goods u/s 7(1)(a) of CGST Act 2017, involving title transfer covered under "goods" as per Schedule II. The vouchers are taxable as per residual entry no. 453 of Third Schedule of N/N. 01/2017-Central Tax (Rate) at 9% CGST and 9% UPGST rate.
The applicant purchases vouchers by paying consideration to the issuer and sells them to clients for consideration. The vouchers have value and ownership transferrable from issuer to applicant and then to ultimate beneficiary. No service element exists between issuer and applicant or applicant and purchaser. Vouchers qualify as movable property and goods. Actionable claims other than lottery, betting, and gambling are neither goods nor services supply under GST. The applicant is involved in trading vouchers for consideration in business, selling at profit. This transaction amounts to supply of goods u/s 7(1)(a) of CGST Act 2017, involving title transfer covered under "goods" as per Schedule II. The vouchers are taxable as per residual entry no. 453 of Third Schedule of N/N. 01/2017-Central Tax (Rate) at 9% CGST and 9% UPGST rate.
Note: It is a system-generated summary and is for quick reference only.
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