https://www.taxtmi.com/caselaws?id=448521 Madras HC held that gift vouchers/cards are actionable claims under GST law, qualifying as debt instruments that acknowledge debt and create rights/liabilities. The court ruled that vouchers for unspecified items are not taxable at issuance as they constitute actionable claims under Schedule III exemption. However, vouchers for specified items attract GST at issuance time due to deemed supply provisions. For general vouchers, tax liability arises only upon redemption when actual supply occurs. The court partially quashed the impugned order, clarifying the taxation timeline based on voucher specificity. en-us Mon, 27 Nov 2023 00:00:00 +0530 Fri, 25 Apr 2025 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448521 Madras HC held that gift vouchers/cards are actionable claims under GST law, qualifying as debt instruments that acknowledge debt and create rights/liabilities. The court ruled that vouchers for unspecified items are not taxable at issuance as they constitute actionable claims under Schedule III exemption. However, vouchers for specified items attract GST at issuance time due to deemed supply provisions. For general vouchers, tax liability arises only upon redemption when actual supply occurs. The court partially quashed the impugned order, clarifying the taxation timeline based on voucher specificity. Case-Laws GST Mon, 27 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448521