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All QuestionsCategory: GST CompliancesGST Query relating to Gift Voucher
Rohit Rathi asked 2 years ago

GST Query relating to Gift Voucher

Madam / Sir,
Please find below my query explained through an illustration:
X ltd sold gift voucher to flipkart at Rs. 10,000 & received the same at the time of  such sale. The ultimate consumer who shall redeem the voucher is unidentifiable at the time of sale of voucher. flipkart issue gift voucher according to its sale policy. Whenever ultimate consumer redeem the voucher, X ltd will supply goods against such gift voucher, at then.
Now my queries are:

  • Whether the above mentioned receipt shall be treated as advance. if not then what would be treatment of Receipt of Rs. 10,000 (received from flipkart) which shall continue to reflect at X ltd bank a/c
  • When should such gift voucher be taxable
  • What should be the taxable amount i.r.o such gift voucher
  • whether any gift voucher memo is required to issue at the time of sale of gift voucher.
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