https://www.taxtmi.com/circulars?id=68565 Transactions in vouchers do not constitute a supply of goods or services: RBI recognised pre paid instruments are treated as money and excluded from goods/services, and non PPI vouchers are actionable claims under Schedule III and likewise not supplies; redemption of underlying goods/services remains taxable. Principal to principal trading of vouchers is not leviable to GST, whereas agents earning commission are taxable on the commission as a supply of services. Ancillary services to voucher issuers are taxable; unredeemed vouchers (breakage) are not taxable. en-us Wed, 15 Jan 2025 00:00:00 +0530 Thu, 01 May 2025 18:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68565 Transactions in vouchers do not constitute a supply of goods or services: RBI recognised pre paid instruments are treated as money and excluded from goods/services, and non PPI vouchers are actionable claims under Schedule III and likewise not supplies; redemption of underlying goods/services remains taxable. Principal to principal trading of vouchers is not leviable to GST, whereas agents earning commission are taxable on the commission as a supply of services. Ancillary services to voucher issuers are taxable; unredeemed vouchers (breakage) are not taxable. Circulars GST - States Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68565