Easy Office
LCI Learning

Taxation of Gift Vouchers

This query is : Open 
Profile Image

Profile Image

(Querist)
07 January 2011 Can VAT be levied on sale, by a retail store, of gift vouchers?

According to me gift vouchers are similar to advance & not goods, hence not liable to VAT.

Also, what other documentation should be kept, from VAT point of view?
Profile Image

CA Vijay Kumar Gupta

Profile Image

CA Vijay Kumar Gupta (Expert)
08 January 2011 gift vouchersare goods and liable for vat.
Profile Image

CA Shailesh Kumar Bhagat

Profile Image

CA Shailesh Kumar Bhagat (Expert)
09 January 2011 VAT is applicable on sale of goods, Gift voucher is not a goods, VAT will not apply. However , when goods is issued against gift voucher VAT will apply.
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

CA Vijay Kumar Gupta

Profile Image

CA Vijay Kumar Gupta (Expert)
10 January 2011 Difference of Opinion
As per Famous TCS Case , it can be classified as goods.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links