Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
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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