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of <h1>Understanding Taxable Supply Value Under Model GST Law 2016: Transaction Value, Inclusions, and Special Rules Explained</h1> The value of taxable supply under the Model GST Law, 2016, is primarily the transaction value, which is the price paid or payable when the supplier and recipient are unrelated, and the price is the sole consideration. This value includes additional costs such as liabilities incurred by the recipient, royalties, taxes, incidental expenses, and subsidies, among others. Discounts known before or at the time of supply are excluded if recorded in the invoice. If the transaction involves non-monetary consideration, related parties, or questionable accuracy, the value is determined by prescribed rules. Specific business transactions and other notified supplies are also subject to special valuation rules.
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