https://www.taxtmi.com/circulars?id=68594 Vouchers that qualify as RBI recognised pre paid instruments are treated as money and not as goods or services; vouchers that do not qualify function as actionable claims and likewise are neither supply of goods nor supply of services. Under a principal to principal trading model, trading margins on vouchers are not subject to GST, whereas commissions or fees paid to agents/distributors for distribution services constitute taxable supplies of services. Ancillary service fees are taxable, and amounts attributable to unredeemed vouchers (breakage) are not taxable absent an agreement treating non redemption as consideration. en-us Sat, 04 Jan 2025 00:00:00 +0530 Mon, 12 May 2025 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68594 Vouchers that qualify as RBI recognised pre paid instruments are treated as money and not as goods or services; vouchers that do not qualify function as actionable claims and likewise are neither supply of goods nor supply of services. Under a principal to principal trading model, trading margins on vouchers are not subject to GST, whereas commissions or fees paid to agents/distributors for distribution services constitute taxable supplies of services. Ancillary service fees are taxable, and amounts attributable to unredeemed vouchers (breakage) are not taxable absent an agreement treating non redemption as consideration. Circulars GST - States Sat, 04 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68594