GST India Forum – Goods and Services Tax (GST) in India › Forums › Bare Law › Sec 2(118) – Voucher
- CA Ashish BadalaModeratorApril 28, 2017 at 11:54 PMPost count: 184Topics: 181
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“voucher” means an instrument where there is an obligation to accept it as consideration or part consideration for a supply of goods or services or both and where the goods or services or both to be supplied or the identities of their potential suppliers are either indicated on the instrument itself or in related documentation, including the terms and conditions of use of such instrument;Priya MadrechaModeratorMay 23, 2017 at 11:34 AMPost count: 280Topics: 4
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‘Voucher’, for the purposes of GST, necessarily means that instrument which should be accepted as consideration (wholly or partly) for a supply. Therefore, a voucher is an asset for the recipient, and without a recipient, a ‘voucher’ would lose its meaning. Therefore, in a case of a supplier issuing a voucher to a recipient of goods, on his making a purchase from the supplier, the voucher is not being viewed as an additional outcome of the supply made to the recipient. Rather, it is an instrument that can be used in place of money (or other consideration) which can be used on effecting yet another inward supply. E.g. coupons, tokens, promo-codes, etc.
However, where the supply can be identifiable at the time of issue of voucher, the tax should be remitted for the month in which the voucher is issued
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