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TMI BlogGST on Gift VouchersX X X X Extracts X X X X X X X X Extracts X X X X ..... Good Afternoon Everyone Let's suppose there's a company A which is in the business of providing gift cards (for eg having a monetary value of Rs 100) to various MNC's which can be used by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the employees of the MNC company at any showroom. A MNC placed an order of 1 Gift card to A and transferred an amount of Rs 100 for the same. Now A has contacted an bank and transferred this 100 to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... them for providing the gift card. Bank issued a gift card valued at 100 and provided the same to A, who delivered the same to MNC. Now as every time that card is used for a purchase bank deducts a f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee of around 2 percent out of which a certain amount is provided to company A, as A brought the clients to the bank. For Every 100 Rs card, A gets around 1.15 Rs (this amount is fixed irrespective of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the usage of the gift card) in their bank account as cashback. Is GST applicable on this transaction and what is the SAC code for the same?. - Reply By Ganeshan Kalyani - The Reply = In my view Ye ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s it is taxable - Reply By Shilpi Jain - The Reply = The transaction fee and the fixed fee would be liable. - GST on Gift Vouchers - Query Started By: - Rohit Kumar Dated:- 22-5-2022 Goods and S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ervices Tax - GST - Got 2 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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