Gift vouchers are neither goods nor services, but instruments used as consideration for payment - Controversy Saga Continues
Last updated: 20 April 2021
Court :
AAAR, Tamil Nadu
Brief :
The AAAR, Tamil Nadu in the matter of Kalyan Jewellers India Ltd. [Order-in-Appeal No. AAAR/11/2021 (AR), dated March 30, 2021] modified the order passed by the AAR, Tamil Nadu to the extent that vouchers are neither good nor service and the Central Goods and Services Tax Act, 2017 ('CGST Act'), recognized it as an instrument of consideration (non-monetary form) for future supply. Further, Held that, Goods and Services Tax ('GST') will be levied at the time of issue of the voucher and not at the time of actual availing of service or time of redeeming the voucher as the supply is deemed to have been made at the time of issue of voucher itself.
Citation :
Order-in-Appeal No. AAAR/11/2021 (AR), dated March 30, 2021
You have reached your daily limit of 2 Free Judgements
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited Judgements Access
Already a PRO member? Login here for an ad-free experience.
Bimal Jain
Published in GST
Views : 181
Comments
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
