Value of taxable supply rules define transaction value, inclusions, exclusions, discounts, and related person tests under GST. Value of taxable supply is generally the transaction value where the supplier and recipient are not related and price is the sole consideration. The value includes specified taxes, recipient-incurred amounts, incidental expenses, delayed payment charges and price-linked subsidies, but excludes permissible discounts. If value cannot be determined under the ordinary rule, or for notified supplies, it is determined in the prescribed manner. The provision also sets out when persons are treated as related persons.
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Provisions expressly mentioned in the judgment/order text.
Value of taxable supply rules define transaction value, inclusions, exclusions, discounts, and related person tests under GST.
Value of taxable supply is generally the transaction value where the supplier and recipient are not related and price is the sole consideration. The value includes specified taxes, recipient-incurred amounts, incidental expenses, delayed payment charges and price-linked subsidies, but excludes permissible discounts. If value cannot be determined under the ordinary rule, or for notified supplies, it is determined in the prescribed manner. The provision also sets out when persons are treated as related persons.
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