Transaction value governs GST valuation: monetary transaction value accepted with apportionment for mixed supplies and related party safeguards.

Transaction value is the primary monetary basis for valuing supplies; taxable value must be apportioned where consideration covers taxable and non taxable components, and transaction value is accepted for related parties if the relationship did not influence price. Intra enterprise and principal agent transfers are valued at transaction value, and supplies subject to the specified statutory category are to be valued by sequentially applying the subsequent rules.

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