Value of supply determines taxable transaction value under GST, including specified charges and excluding documented discounts. The Value of supply is the transaction value-the price actually paid or payable-where supplier and recipient are not related and price is sole consideration; it includes separately charged taxes (other than central/state GST and compensation law), amounts paid by recipient on supplier's behalf, incidental expenses, interest/late fees, and subsidies linked to price received by supplier. Discounts recorded on invoice or contractually post-supply with reversal of input tax credit are excluded. Where transaction value cannot be determined, prescribed or notified valuation methods apply, and the provision defines 'related persons' for these purposes.
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.
Value of supply determines taxable transaction value under GST, including specified charges and excluding documented discounts.
The Value of supply is the transaction value-the price actually paid or payable-where supplier and recipient are not related and price is sole consideration; it includes separately charged taxes (other than central/state GST and compensation law), amounts paid by recipient on supplier's behalf, incidental expenses, interest/late fees, and subsidies linked to price received by supplier. Discounts recorded on invoice or contractually post-supply with reversal of input tax credit are excluded. Where transaction value cannot be determined, prescribed or notified valuation methods apply, and the provision defines "related persons" for these purposes.
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