Gift vouchers, rewards points and website subscription is excluded from definition of VDA: CBDT

The Central Government hereby notifies the following virtual digital assets which shall be excluded from the definition of virtual digital asset:

(i) Gift card or vouchers, being a record that may be used to obtain goods or services or a discount on goods or services;

(ii) Mileage points, reward points or loyalty card, being a record given without direct monetary consideration under an award, reward, benefit, loyalty, incentive, rebate or promotional program that may be used or redeemed only to obtain goods or services or a discount on goods or services

(iii) Subscription to websites or platforms or application.