Open market value determines GST valuation where unrelated parties transact and price is the sole consideration for supply. Determination of the taxable value for supplies under GST is governed by open market value, the full monetary value excluding relevant taxes payable in a transaction between unrelated parties where price is the sole consideration; comparators must be supplies of like kind and quality substantially resembling the supply being valued.
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Provisions expressly mentioned in the judgment/order text.
Open market value determines GST valuation where unrelated parties transact and price is the sole consideration for supply.
Determination of the taxable value for supplies under GST is governed by open market value, the full monetary value excluding relevant taxes payable in a transaction between unrelated parties where price is the sole consideration; comparators must be supplies of like kind and quality substantially resembling the supply being valued.
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