Some Vouchers are Actionable Claims, No GST Applicable on All Vouchers per se: FM after GST Council Meet

The Finance Minister clarified after the GST Council meeting that not all vouchers are subject to GST. Some vouchers are considered actionable claims and thus fall outside the scope of GST. These actionable claims, which involve goods or services to be delivered in the future, are excluded from GST. The clarification aims to provide clarity to businesses dealing with various types of vouchers and prepaid cards, ensuring they do not erroneously apply GST on all voucher transactions. The decision streamlines the tax treatment of vouchers and helps businesses accurately assess their GST obligations, providing legal certainty in the voucher market.