Meaning of the expression ‘thanks but no thanks’?

If someone offers you something, and you respond by saying ‘thanks, but no thanks’, what you mean is ‘I appreciate the offer, but I decline.’ The expression is one way of refusing or turning down an invitation; it is always used to convey a rejection.

Example:  When Rahul offered to help me with the project, I told him, ‘Thanks, but no thanks’.

Source: “The Hindu”   – Know Your English  Column –  Feb 05, 2008

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