Value of Taxable Supply: transaction value governs valuation and includes incidental expenses and by product consideration.

Section 15 prescribes Transaction Value as the value of a supply where the supplier and recipient are not Related person and the price is the sole consideration; the transaction value includes incidental expenses up to delivery. For job-work, retention of scrap or by products by the job worker is regarded as consideration and must be included in the value of the supply.

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