Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
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.
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