Value of supply based on cost requires a specified markup when other valuation rules are inapplicable. Where other valuation rules do not determine the value, the supply value is calculated by applying a markup to the relevant cost base - the cost of production or manufacture, cost of acquisition for goods, or cost of provision for services - which then serves as the taxable value for GST.
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Provisions expressly mentioned in the judgment/order text.
Value of supply based on cost requires a specified markup when other valuation rules are inapplicable.
Where other valuation rules do not determine the value, the supply value is calculated by applying a markup to the relevant cost base - the cost of production or manufacture, cost of acquisition for goods, or cost of provision for services - which then serves as the taxable value for GST.
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