Transaction value governs taxable supply valuation; includes specified taxes, incidental expenses and linked subsidies, excludes documented discounts. The value of a supply is the transaction value-the price actually paid or payable when parties are not related and price is sole consideration; value includes separately charged non GST taxes and duties, amounts paid by recipient on supplier's behalf, incidental expenses (commission, packing), charges for acts done by supplier at or before delivery, interest/late fees, and subsidies directly linked to price (included for the recipient of subsidy); discounts recorded on invoice or post supply discounts under agreement with reversal of input tax credit are excluded; where transaction value cannot be determined valuation follows prescribed methods and certain supplies may be valued as notified by Government on Council recommendations.