Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
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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