|
Voucher transactions not liable to GST: CBIC
India's CBIC clarified transactions involving vouchers do not constitute supply of goods or services and are not liable to GST. GST will only apply to additional services such as marketing or commission-based distribution. Unredeemed vouchers are also not taxable. CBIC also issued clarifications on Input Tax Credit (ITC) for Ex-Works Contracts and e-commerce operators.
New Delhi: India's Central Board of Indirect Taxes and Customs (CBIC) Wednesday clarified that transactions involving vouchers do not constitute supply of goods or services and are thus not liable to goods and services tax.
|
