Consideration for supply defines payments and non monetary value determining GST liability on goods and services.

Consideration for Supply under GST includes payments and the monetary value of acts or forbearance made in respect of, in response to, or for the inducement of a supply. It covers monetary and non monetary consideration, treats deposits as non consideration until applied or forfeited, excludes government subsidies but includes third party subsidies directly linked to supply, and applies valuation rules to barter/exchange, joint development, returnable packing, artist consignments, and other fact sensitive scenarios.

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