J the App
HomeWhat We DoFeaturesPostsDownload App
HomeWhat We DoFeaturesPosts
Download App
Terms|Privacy

JustIDT Solutions Private Limited © 2026

  1. Home
  2. Posts
  3. Indirect Tax
  4. GST On Prepaid Payment Instruments-To Pay or Not to Pay. Sequel to the Trilogy released by J the app
Goods and Service TaxArticle·2 January 2025

GST On Prepaid Payment Instruments-To Pay or Not to Pay. Sequel to the Trilogy released by J the app

By J the App

Executive Summary

The Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 243/37/2024-GST on December 31, 2024, providing clarity on the Goods and Services Tax (GST) treatment of vouchers. In essence, the CBIC through the circular has held that the transaction in vouchers are neither supply of goods nor of services and therefore will not be subjected to GST per se. However, any commission earned through sale of such vouchers will be charged to GST

Synopsis

Pre-Paid Instruments (PPI). Should they be subjected to GST. Should they be treated as actionable claims. What will happen to PPIs if they are to be used to for exempted Products or ...

Read the full article in the app

This is a premium article. Download J the App to read the complete content.

Read in the App

Get the full experience with comments, likes, and more in the app.

Open in App
App StoreGoogle Play