Treatment of Prepaid Payment Instruments (PPIs) under the GST Act, 2017

Mr. Ashish Narang

doi:https://doi.org/10.17492/jpi.vision.v8i2.822107

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Treatment of Prepaid Payment Instruments (PPIs) under the GST Act, 2017

Ashish Narang

https://doi.org/10.17492/jpi.vision.v8i2.822107

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Published Online: December 15, 2021

Author Details ( * ) denotes Corresponding author

1. * Ashish Narang, Student, Department of BA.LLB, Jindal Global Law School, Sonipat, Karnataka, India (anarang43@gmail.com)

This paper aims at analyzing the treatment of vouchers, more specifically of Prepaid Payment Instruments (PPIs), a type of voucher under the Central Goods and Services Act, 2017 (CGST Act). This paper will look at two contentions: (i) Are PPIs Goods or Services under the CGST Act and (ii) Are PPIs money under the CGST Act. The paper will discuss some important judgements in India and the European Union (EU) and look at the problem of double taxation created by them and their implications.

Keywords

PPIs; Semi-closed PPIs; Open PPIs; Closed PPIs; SPV; MPV.