GST Law: Time of Supply for Pre-Paid Instruments Like Gift Vouchers Set by Issue Date, Not Goods/Services Classification.

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....Time of supply of goods - facility of supply of different types of Pre-Paid Instruments (PPI's) - Voucher by GST law is recognized as an instrument of consideration (non-monetary form) for future supply. Regarding classification of voucher, since voucher is only an instrument of consideration and not goods or services, the same is not classifiable separately but only the supply associated with the voucher is classifiable according to the nature of the goods or services supplied in exchange of the voucher earlier issued to the customer. - Thus, the time of supply of the gift vouchers / gift cards by the applicant to the customers shall be the date of issue of such vouchers and the applicable rate of tax is that applicable to that of the goods. - AAAR....