https://www.taxtmi.com/circulars?id=68659 Vouchers themselves are not a supply under GST: where covered as pre paid instruments recognised by the central bank they constitute money and are excluded from supply; where not so covered they qualify as actionable claims and similarly are not treated as supply. GST applies on the underlying goods or services upon redemption. Distribution is GST neutral if conducted on a principal to principal trading basis, whereas commissions or fees paid to agents/distributors acting for the issuer are taxable as services. Ancillary services to the issuer are taxable, while breakage from unredeemed vouchers is not taxable absent any agreement creating consideration. en-us Fri, 13 Jun 2025 00:00:00 +0530 Thu, 19 Jun 2025 18:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68659 Vouchers themselves are not a supply under GST: where covered as pre paid instruments recognised by the central bank they constitute money and are excluded from supply; where not so covered they qualify as actionable claims and similarly are not treated as supply. GST applies on the underlying goods or services upon redemption. Distribution is GST neutral if conducted on a principal to principal trading basis, whereas commissions or fees paid to agents/distributors acting for the issuer are taxable as services. Ancillary services to the issuer are taxable, while breakage from unredeemed vouchers is not taxable absent any agreement creating consideration. Circulars GST - States Fri, 13 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68659