https://www.taxtmi.com/circulars?id=68076 Transactions in vouchers are not a supply of goods or services: RBI recognised pre paid instruments qualify as money and are excluded; non RBI vouchers are actionable claims (not specified actionable claims) and fall under Schedule III, hence not supplies. Under principal to principal distribution, trading in vouchers is not leviable to GST; under agency/commission models, agents' commission is taxable as supply of services. Ancillary services provided to voucher issuers are taxable, while unredeemed vouchers (breakage) do not constitute consideration for any supply and are not taxable. en-us Wed, 08 Jan 2025 00:00:00 +0530 Sat, 25 Jan 2025 13:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68076 Transactions in vouchers are not a supply of goods or services: RBI recognised pre paid instruments qualify as money and are excluded; non RBI vouchers are actionable claims (not specified actionable claims) and fall under Schedule III, hence not supplies. Under principal to principal distribution, trading in vouchers is not leviable to GST; under agency/commission models, agents' commission is taxable as supply of services. Ancillary services provided to voucher issuers are taxable, while unredeemed vouchers (breakage) do not constitute consideration for any supply and are not taxable. Circulars GST - States Wed, 08 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68076