https://www.taxtmi.com/caselaws?id=433615 The Karnataka HC held that semi-closed prepaid payment instruments (vouchers) are not taxable at the time of issuance but only upon redemption. The court determined that vouchers distributed to employees or customers represent pre-deposits rather than supply of goods or services, as the specific goods/services are unidentified at issuance. The transaction constitutes procurement and delivery of printed forms similar to currency, with taxable value arising only at redemption. The court concluded vouchers are neither goods nor services and cannot be taxed at issuance. Petition allowed. en-us Mon, 16 Jan 2023 00:00:00 +0530 Mon, 14 Apr 2025 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433615 The Karnataka HC held that semi-closed prepaid payment instruments (vouchers) are not taxable at the time of issuance but only upon redemption. The court determined that vouchers distributed to employees or customers represent pre-deposits rather than supply of goods or services, as the specific goods/services are unidentified at issuance. The transaction constitutes procurement and delivery of printed forms similar to currency, with taxable value arising only at redemption. The court concluded vouchers are neither goods nor services and cannot be taxed at issuance. Petition allowed. Case-Laws GST Mon, 16 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433615