Company issues vouchers to client A for Rs. 30000 and company has entered into contract with many establishments for redeeming such vouchers like Reliance Fresh, MacDonald and also with Amazon etc. Client A redeems such voucher on Amazon for Rs .20000 for purchasing goods of worth Rs 20000. Determine time of supply and value of supply of vouchers' 


According to section 12(4), In case of supply of vouchers by a supplier, the time of supply shall be'
(a) the date of issue of voucher, if the supply is identifiable at that point; or 
(b) the date of redemption of voucher, in all other cases.

In the given case supply is not identifiable at the time of issue of voucher, therefore, the date of redemption of vouchers would be the time of supply of voucher. 

Rule 32 of determination of value of supply specifies that the value of a token, or a voucher, or a coupon, or a stamp (other than postage stamp) which is redeemable against a supply of goods or services or both shall be equal to the money value of the goods or services or both redeemable against such token, voucher, coupon, or stamp. 

Thus, in the above example, value of voucher is the money value of goods which is purchased from Amazon i.e. for Rs. 20000.