Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
CBIC clarified that transactions in vouchers, whether recognized as pre-paid instruments by RBI or not, are neither supply of goods nor services. Trading of vouchers on principal-to-principal basis is not leviable to GST. However, commission/fee earned by agents for distribution is taxable service. Additional services like advertising, marketing etc. provided to voucher issuer are taxable supplies. Unredeemed vouchers (breakage) are not taxable as there is no underlying supply.
CBIC clarified that transactions in vouchers, whether recognized as pre-paid instruments by RBI or not, are neither supply of goods nor services. Trading of vouchers on principal-to-principal basis is not leviable to GST. However, commission/fee earned by agents for distribution is taxable service. Additional services like advertising, marketing etc. provided to voucher issuer are taxable supplies. Unredeemed vouchers (breakage) are not taxable as there is no underlying supply.
Note: It is a system-generated summary and is for quick reference only.
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