Valuation of imported services by related persons clarified for recipients eligible to full input tax credit, guidance issued for uniform application. Clarification explains valuation of imported services supplied by related persons where the recipient is eligible to full input tax credit, affirming that valuation must follow existing GST valuation principles, including consideration of related party adjustments, markup and arm's length assessment as applicable. The State Tax Commissioner has circulated the Department of Revenue circular to subordinate officers and trade organisations for dissemination and uniform application.
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Provisions expressly mentioned in the judgment/order text.
Valuation of imported services by related persons clarified for recipients eligible to full input tax credit, guidance issued for uniform application.
Clarification explains valuation of imported services supplied by related persons where the recipient is eligible to full input tax credit, affirming that valuation must follow existing GST valuation principles, including consideration of related party adjustments, markup and arm's length assessment as applicable. The State Tax Commissioner has circulated the Department of Revenue circular to subordinate officers and trade organisations for dissemination and uniform application.
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