Input Tax Credit Unavailable for Vouchers Exchanged via Loyalty Points, Rules AAAR u/s 16 of CGST Act 2017.

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....Input tax credit - vouchers and subscription packages procured by the Applicant from third party vendors that are made available to the eligible customers participating in the loyalty program against the loyalty points earned/ accumulated by the said customers - Section 16 of the CGST Act, 2017 - ITC not available - AAAR....