Prepaid coupon gst

For eg - Mr. Sharma purchase 10 gift vouchers for Rs. The vouchers from Four Fountains Spa had a special offer for couples — services for both persons at the price chargeable to one.

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The value of the supply would be the money value of the goods redeemable against the voucher. Thus, in case of vouchers from Crossword, the value would be Rs.


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Disclaimer - The information provided in this document is for general information only. It is based on the information available publicly and the advice received from various professional experts regarding the GST law. Go Back. Sir then in case where the supply thr voucher covers is not identifiable at the point of sale of voucher than would the supplier be required to issue taxable invoice at nil rate or simply a bill of supply?

Treatment of vouchers under GST law - Lexology

Understanding the above judgement The above judgement signifies: Time of supply in case of vouchers: In case of supply of vouchers by a supplier, the time of supply shall be— a the date of issue of voucher, if the supply is identifiable at that point; or b the date of redemption of voucher, in all other cases. Rate of GST on vouchers The rate of tax will be that applicable to goods or services they are issued in respect of or that applicable at the time of redemption.

Value of supply In case of supply of a voucher, the value will be the redemption value of the voucher. When consideration is received e. The voucher can be used in his next purchase. When the voucher is redeemed for goods and no consideration e. When the voucher is redeemed for services and no consideration is received , you do not need to account for GST as deeming of supply is not required for the provision of free services. When you sell a product voucher which entitles your customer to specified goods or services from you e.

The payment received is a non-refundable pre-payment for the goods and services to be supplied.

Treatment of vouchers under GST law

Therefore, you need to account for GST when the voucher is issued and sold. When you sell a discount voucher which entitles your customer to enjoy discount on purchases, you need to charge GST on the consideration received from the sale of the voucher. When the discount voucher is later used to obtain a discount on the purchase of goods and services, GST is chargeable on the discounted price i.

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Text size. Casino Tax Clubs and Associations Charities. The voucher is sold for a consideration e. The voucher gives a right to receive goods and services up to the monetary value or non-monetary value stated on or recorded in the voucher. The voucher must be presented or utilised to exchange for the goods and services acquired. Must not make reference to specific goods or services The voucher must not make reference to the value or description of any particular goods or services that may be redeemed under the voucher.


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  • The only exception applies to prepaid phone cards. Examples of MRVs. Examples of Non-MRVs. Voucher which are given away free Product voucher for specific goods or services e. Event 1: You should not issue a tax invoice for the sale of MRV.