Accordingly, the Certificate issued to the appellant contains the following terms and conditions: "The Payment System Provider shall adhere to the provisions of the Payment and Settlement Systems Act, 2007, regulations issued thereunder and the directions/guidelines issued by the Reserve Bank of India.
Having taken note of the nature of business operation of the appellant herein and the manner the same is statutorily regulated by the Payments and Settlement Systems Act, 2007 and the Rules framed thereunder, we revert to the issue that has to be answered.
It would depend ultimately upon the intention of the parties.
The authorization is only for issue of meal vouchers and gift vouchers in the form of 'Paper based vouchers' and 'Smartcard' or 'Smart Meal Card' and subject to adherence of the 'Policy Guidelines for issuance and operation of Pre-paid Payment Instruments in India' (unless specific.Should this perquisite be shown in payslip?Airtel Center, Plot.If the parties intended that the SIM card would be a separate object of sale, it would be open to the Sales Tax Authorities to levy sales tax thereon.As per this, the amount thus collected has to be kept in the escrow account and the persons, like the appellant herein, are under obligation to use this amount only for making payments to the participating merchant establishments and other permitted payments.Therefore, this test of ascertaining the same to be 'goods' is not satisfied.(II) Transaction Regulated By RBI Guidelines: As already pointed out above, without the sanction/ authorisation of the RBI to operate such a payment system under the Payment and Settlement Systems Act, 2007, nobody can operate such a system, as the purpose of the said Act.

The Chief Executive Officer, QwikCilver Solutions Pvt.
The appellant has been granted a Certificate of Authorisation by the RBI to operate a payment system for the issuance of Sodexo Meal Vouchers in the form of 'Paper Based Vouchers' under the aforesaid provision.
Pre-paid payment instruments known as HotRemit' (Valid up to ) 7 Done Card Utility Limited The Director, Done Card Utility Limited, 301, Linkway Estate, Near Chincholi Fire Station, New Link Road, Malad (West Mumbai 400064.Learned counsel for the appellant, on the other hand, referred to the intrinsic nature of the transaction with the aid of RBI Policy on the subject and certain judgments of this Court, on the basis of which he was vociferous in his submission that.# Info on our hot-out-of-the-oven products # All-important industry gyaan on employee benefits A confirmation mail has been sent to your.2010 (Valid up to ) 3 Atom Technologies Limited The Chief Executive Officer; Atom Technologies Limited, 4th Floor FT Towers, CTS 256 257, Suren Road, Chakala, Andheri (E Mumbai-400093.Further, the guidelines on Know Your Customer/Anti-Money Laundering/ Combating Financing of Terrorism issued by the RBI to Banks, from time to time shall apply mutatis mutandis to the entity.".Clause (aaa) was inserted in sub-section (2) by way of amendment carried out vide Mah.27 of 2009, with effect from August 31, 2009, whereby LBT was also included as another form of tax which could be levied and this clause reads as under: aaa) Local.Pre-paid payment instruments only (Valid up to ) 14 My Mobile Payments Limited The Chief Executive Officer, My Mobile Payments Limited, 7th Floor, MET Complex, Opp.