Transaction value principle: price paid governs supply valuation, with specified inclusions and documented discounts excluded. Value of supply follows the transaction value rule: price actually paid or payable is taxable where parties are not related and price is sole consideration. Specified additions (other law taxes if separately charged, recipient-incurred payments, incidental expenses, interest/penalties, and price-linked subsidies) must be included. Discounts documented at or before supply, or agreed post-supply with reversal of attributable input tax credit, are excluded. If transaction value cannot be determined, prescribed valuation methods apply and certain supplies may be notified for special valuation. The statute defines related persons broadly and treats legal persons as persons.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transaction value principle: price paid governs supply valuation, with specified inclusions and documented discounts excluded.
Value of supply follows the transaction value rule: price actually paid or payable is taxable where parties are not related and price is sole consideration. Specified additions (other law taxes if separately charged, recipient-incurred payments, incidental expenses, interest/penalties, and price-linked subsidies) must be included. Discounts documented at or before supply, or agreed post-supply with reversal of attributable input tax credit, are excluded. If transaction value cannot be determined, prescribed valuation methods apply and certain supplies may be notified for special valuation. The statute defines related persons broadly and treats legal persons as persons.
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