CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
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Vouchers are instruments representing value that facilitate supply of goods or services. They qualify as movable property and constitute 'goods' under GST laws. Trading in vouchers for consideration amounts to supply of goods u/s 7(1)(a) of CGST Act. When vouchers represent right to receive goods/services at future date without physical exchange, trading activity involves transfer of such rights, treated as supply of service. For intermediaries arranging distribution/sale of discount vouchers earning commission/discount, GST liability arises on service of facilitating voucher distribution. Trading in vouchers is taxable event, time of supply being when vouchers are traded/sold, with value being margin between buying and selling price. Supply of vouchers is taxable as goods u/s 12(4), while commission/discount earned is taxable service.
Vouchers are instruments representing value that facilitate supply of goods or services. They qualify as movable property and constitute 'goods' under GST laws. Trading in vouchers for consideration amounts to supply of goods u/s 7(1)(a) of CGST Act. When vouchers represent right to receive goods/services at future date without physical exchange, trading activity involves transfer of such rights, treated as supply of service. For intermediaries arranging distribution/sale of discount vouchers earning commission/discount, GST liability arises on service of facilitating voucher distribution. Trading in vouchers is taxable event, time of supply being when vouchers are traded/sold, with value being margin between buying and selling price. Supply of vouchers is taxable as goods u/s 12(4), while commission/discount earned is taxable service.
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