Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
The Delhi Department of Trade & Taxes adopted CBIC Circular No. 243/37/2024-GST clarifying GST treatment of vouchers under DGST Act, 2017. The CBIC determined that voucher transactions constitute neither supply of goods nor services, as vouchers qualify as either "money" under RBI-recognized pre-paid instruments or "actionable claims" under Schedule III exclusions. Principal-to-principal voucher trading by distributors remains non-taxable, while commission-based distribution services attract GST on fees received. Additional services like marketing and technology support provided to voucher issuers are taxable at applicable rates. Unredeemed vouchers (breakage) are not subject to GST as no underlying supply occurs and no consideration exists without express agreement for non-redemption charges.
The Delhi Department of Trade & Taxes adopted CBIC Circular No. 243/37/2024-GST clarifying GST treatment of vouchers under DGST Act, 2017. The CBIC determined that voucher transactions constitute neither supply of goods nor services, as vouchers qualify as either "money" under RBI-recognized pre-paid instruments or "actionable claims" under Schedule III exclusions. Principal-to-principal voucher trading by distributors remains non-taxable, while commission-based distribution services attract GST on fees received. Additional services like marketing and technology support provided to voucher issuers are taxable at applicable rates. Unredeemed vouchers (breakage) are not subject to GST as no underlying supply occurs and no consideration exists without express agreement for non-redemption charges.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
