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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 ..... GST on Gift Vouchers X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 the employees of the MNC company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 them for providing the gift card ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 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 fee of around 2 percent out of whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch 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 the usage of the gift card) in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... heir 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 Yes it is taxable Reply By Shilpi Jai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n:
The Reply:
The transaction fee and the fixed fee would be liable. X X X X Extracts X X X X X X X X Extracts X X X X
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