I am not so into finding jugad but considering the tax issue I went ahead and checked with one of my friend who is always using Amazon & Flipkart for most of his domestic requirements. The reason for me asking such a stupid question was to find out whether you can cash an Amazon gift card using Amazon pay.
I found out that you can transfer the gift card amount to your bank account but you need to pass full KYC. Now the question that came into my mind was is their any tax involved for using a coupon on an Amazon or any other online platform? If yes then why use Bitrefill? If not then what are the implications of passing KYC of Amazon pay?
I am aware the max you can get as a gift coupons is 5k as I recently made a purchase on Bitrefill. The problem is if I pass full KYC can I still cashout with regular intervals before Amazon start questioning my transaction?
If anyone here has tried it please leave a reply.
Thanks in advance.
P.S- Please ignore my typo mistake as this time is midnight for me.
there is no fee or tax for redeeming the amazon gift card code,
but, after redeeming the code you won't able to transfer that money into your bank account without doing full KYC,
it will better for you to find any trusted user in service board and tell them to exchange that amazon pay gift card to inr or crypto (if you already redeemed the gift card and now that money is in you amazon pay wallet then you can buy another amazon pay gift card to code to exchange it for crypto or INR here in this forum many trusted people are there to help you to exchange any giftcard or you can use any other website to exchange)