06 September 2017
Textile trading company proposes to sell/issue gift vouchers in the denominations Rs.500, R.1000, Rs.2000 etc., How to deal with these in GST regime. Whether to treat these vouchers as advance received and book it under sales at the time of redumption?
06 September 2017
Yes, Consider the amount received on issue of Gift Voucher as advances and pay tax, adjust the same against sales bills when redeemed.
CAclubindia
