TaxTMI 
TaxTMI 
There is an option available to pay taxes on 70% of Gross Consideration for materials and 30% of gross consideration on Services @ 18%. Is this facility optional or mandatory?? Notification number 08/2021 Central taxes (Rate) dated 30/09/2021 refers
EPC contract for solar power plant
01 Dec 2023 
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Deemed valuation under GST: mandatory allocation between goods and services when notification conditions are met, subject to challenge.
The notification prescribes a deemed valuation for supplies where specified goods are supplied alongside a taxable service: the goods' value is deemed as seventy per cent of gross consideration and the remainder deemed as the service value; when conditions are met this allocation is mandatory, but its interplay with general statutory valuation rules is contested and subject to High Court challenge. (AI Summary)
The notification prescribes a deemed valuation for supplies where specified goods are supplied alongside a taxable service: the goods' value is deemed as seventy per cent of gross consideration and the remainder deemed as the service value; when conditions are met this allocation is mandatory, but its interplay with general statutory valuation rules is contested and subject to High Court challenge. (AI Summary)