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of <h1>Rule 7 of GST Valuation Rules 2016: Procedure for Challenging Declared Value of Goods and Services Explained</h1> Rule 7 of the GST Valuation Rules, 2016, outlines the procedure for rejecting the declared value of goods and services when there is doubt about its accuracy. If a proper officer suspects the truth of a declared value, they can request additional information from the supplier. If doubts persist, the transaction value is considered undeterminable under Rule 3. Reasons for doubt include discrepancies in value compared to similar goods, mis-declarations, or market value deviations. The officer must notify the supplier in writing, offer a hearing, and, if unsatisfied, determine the value using Rules 4, 5, or 6. This rule establishes a procedure rather than a valuation method.
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