Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
The AP State Tax Authority issued a comprehensive clarification on GST treatment of vouchers, addressing four key issues. The ruling determines that voucher transactions are neither a supply of goods nor services, whether the vouchers are RBI-recognized pre-paid instruments or actionable claims. Transactions involving voucher distribution through principal-to-principal models do not attract GST, while agency-based distributions may incur GST on commissions. Additional services related to voucher distribution remain taxable. Critically, unredeemed vouchers (breakage) are not considered taxable, as they do not constitute a supply of goods or services when no redemption occurs. The guidance aims to provide uniformity in GST implementation across field formations.
The AP State Tax Authority issued a comprehensive clarification on GST treatment of vouchers, addressing four key issues. The ruling determines that voucher transactions are neither a supply of goods nor services, whether the vouchers are RBI-recognized pre-paid instruments or actionable claims. Transactions involving voucher distribution through principal-to-principal models do not attract GST, while agency-based distributions may incur GST on commissions. Additional services related to voucher distribution remain taxable. Critically, unredeemed vouchers (breakage) are not considered taxable, as they do not constitute a supply of goods or services when no redemption occurs. The guidance aims to provide uniformity in GST implementation across field formations.
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