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of <h1>Transaction value for taxable supply equals actual price paid with inclusions, exclusions and rules under Section 15</h1> The value of a taxable supply is the transaction value - the price actually paid or payable where supplier and recipient are not related and price is the sole consideration. The value includes taxes and duties (other than GST/compensation cess) if charged separately, amounts borne by the recipient but payable by the supplier, incidental expenses (commission, packing, etc.), interest/late fees, and subsidies linked to price (except government subsidies). Discounts recorded on invoice or pre-agreed and properly documented post-supply reductions are excluded. If transaction value cannot be determined, or for notified supplies, value is determined as prescribed. Related persons and related definitions are specified.
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