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AAAR determined that free silver supplied by Naval Formations as used batteries constitutes non-monetary additional consideration for battery supply. The taxable value must include the value of free silver under Section 15(2)(b) and Section 15(4) of CGST Act. The free material has direct economic nexus with the underlying supply and represents a substantial part of raw material input. The transaction value cannot be solely determined under Section 15(1), as the supply involves significant non-monetary components. Consequently, the free silver's value must be incorporated into the total taxable value for GST calculation purposes, encompassing both monetary and non-monetary consideration elements.
AAAR determined that free silver supplied by Naval Formations as used batteries constitutes non-monetary additional consideration for battery supply. The taxable value must include the value of free silver under Section 15(2)(b) and Section 15(4) of CGST Act. The free material has direct economic nexus with the underlying supply and represents a substantial part of raw material input. The transaction value cannot be solely determined under Section 15(1), as the supply involves significant non-monetary components. Consequently, the free silver's value must be incorporated into the total taxable value for GST calculation purposes, encompassing both monetary and non-monetary consideration elements.
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