The RBI classifies gift vouchers as prepaid instruments Prepaid vouchers are considered 'money' and exempt from GST Non-prepaid vouchers are 'actionable claims' and also GST exempt Gift vouchers and ...

Prepaid vouchers: Treated as ‘money’ Prepaid vouchers, such as gift cards and digital wallets, are recognised by the Reserve Bank of India (RBI) as prepaid instruments. These vouchers are treated as ...

Illustration: Dominic Xavier/Rediff.com According to the CBIC, vouchers can be categorised into two types. The first category includes prepaid instruments, such as gift cards and digital wallets ...

Gift cards or vouchers, whether recognised by RBI or not, including trading margins, will not be treated as goods or services and hence not liable to GST, the CBIC clarified in its latest circular.

The beauty retailer has finally revealed its 2025 birthday gift offerings, and they include makeup, skin, and hair products from some of the most-hyped brands (like Summer Fridays and MAKEUP BY ...