No returns even with gift receipt

Tried to return a Christmas gift with the gift receipt. Was told I couldn't because it didn't have tags on. They were removed before giving it to me. I was told that I could get something in store for the same price. When I asked if I could get store credit I was told no. What is the difference between store credit to use later or exchanging it for something different today? The gift receipt did not say must have tags attached. Very poor customer service!!!!