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of <h1>Understanding GST: Rule 27 on Valuing Supplies with Non-Monetary Consideration Explained in Simple Terms.</h1> The determination of the value of supply under GST rules, specifically Rule 27 of CGST, addresses situations where consideration is not solely monetary. For such cases, the taxable value is determined sequentially: first by the open market value, then by the sum of monetary and known non-monetary consideration, or by the value of similar goods or services. If these methods fail, Rule 30 or 31 is applied, considering cost plus markup or reasonable means. Examples illustrate scenarios like exchanges or barter, emphasizing the inclusion of non-monetary value in taxable calculations to ensure compliance with GST provisions.
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