section 15(2)(d) included in value of transaction-taxes paid

[ashwin kumar]

Dear sir,

As per section 15(2)(d) of CSGT/SGST Act 2016 , any taxes duties etc are to be included in the transaction value for applying GST rate tax. Does this mean, in case of Import customs duty shall part of transaction value while applying IGST rate. If so, whether still cascading exists.

thank you

AI Summary

Debate on Including Customs Duty in Transaction Value Under Section 15(2)(d) of GST Act 2016: Tax-on-Tax Concerns A forum discussion revolves around the inclusion of taxes in the transaction value under section 15(2)(d) of the GST Act 2016. A participant questions whether customs duty should be included in the transaction value for IGST, potentially leading to a tax-on-tax scenario. A responder clarifies that customs duty, not subsumed under GST, forms part of the transaction value, and IGST replaces CVD and SAD. The discussion highlights concerns about GST's goal to eliminate tax cascading and acknowledges that not all taxes are subsumed under GST, with customs duty serving its purpose of regulating trade.