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 (CGSTAct). 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 judgments in India and the European Union (EU) and look at the problem of double taxation created by them and their implications.