GST:
The CBIC has issued circular to clarify that transaction in vouchers would be treated neither as a “supply of goods” nor as a “supply of services. However, supply of underlying goods and/or services, for which vouchers are used as consideration or part consideration, may be taxable under GST. Also, the service fee/ service charge/ affiliate charge or other amount for supply of such additional services to the voucher issuer as per the terms of contract/agreement, would be liable to GST.
[Circular No. 243/37/2024-GST dated 31.12.2024]
