https://www.taxtmi.com/article/detailed?id=16102 GST vouchers are instruments that carry an obligation to be accepted as consideration for the supply of goods or services and identify either the supply or the supplier. The central test is substance over form: if an instrument does not satisfy the obligation-to-accept requirement, or instead functions as a service, discount, or employee perquisite, it is not a voucher. The article distinguishes vouchers from separately identifiable services, discount coupons, loyalty points, and employee benefit structures by focusing on the rights created and the real nature of the transaction. en-us Mon, 30 Mar 2026 08:48:45 +0530 Mon, 30 Mar 2026 08:48:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16102 GST vouchers are instruments that carry an obligation to be accepted as consideration for the supply of goods or services and identify either the supply or the supplier. The central test is substance over form: if an instrument does not satisfy the obligation-to-accept requirement, or instead functions as a service, discount, or employee perquisite, it is not a voucher. The article distinguishes vouchers from separately identifiable services, discount coupons, loyalty points, and employee benefit structures by focusing on the rights created and the real nature of the transaction. Articles Goods and Services Tax - GST Mon, 30 Mar 2026 08:48:45 +0530 https://www.taxtmi.com/article/detailed?id=16102