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<h1>Value of supply: transaction value rule governs GST valuation, with specified inclusions and documented discount exclusions.</h1> Section 15 sets the value of supply as the transaction value when parties are unrelated and price is sole consideration, and requires inclusion of non-GST taxes charged separately, amounts borne by the recipient for the supplier, incidental expenses (commission, packing), interest or late fees, and subsidies directly linked to price. Discounts are excluded if documented on invoice at or before supply or if post-supply discounts are agreed and input tax credit is reversed. Where transaction value cannot be applied, value is determined as prescribed and notified categories may follow special methods. The section defines related persons and treats sole agency or distributorship as a related relationship.
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