Need to know whether closed pre-payments Instruments is chargeable under GST by RBI or Banks while providing this services to the company.
Menu
GST Section related to Closed Pre-Payment Instruments
Replies (1)
Summary: The issuance of closed prepaid payment instruments (like gift vouchers) is generally not subject to GST because it is not considered a supply of goods or services. Taxability is typically triggered only at the time of redemption, when the instrument is used to purchase specific goods or services. Any separate processing or convenience fees charged for the service remain taxable.
Recent Topics :
- SECTION 139(10) OF THE COMPANIES ACT, 2013 CASE
- TDS u/s.194C returns filed in ITR-1
- TDS on Property - Form 26QB Related
- Capital gains on sale of flat from wife to husband
- TDS filing for the 1st quarter of TY 2026-27
- Login into Old Traces Portal
- Professional Income reporting in ITR-3
- Pf exemption in hand of spouse on demised of husba
- Missed deadline to revise ITR for a foreign asset
- Durga Puja 2026 Dates: Mahalaya, Shashthi to Vijay
Related Topics :
CAclubindia
