Transaction value in GST determines taxable supply value; inclusions, exclusions and valuation rules govern uncertain or related-party pricing. Valuation for GST is ordinarily based on the transaction value, the price paid or payable where parties are unrelated and price is sole consideration; Section 15 prescribes inclusions (taxes and charges other than CGST/SGST and compensation cess, amounts borne by recipient, incidental expenses, interest/penalty, and subsidies linked to price) and exclusions (properly recorded pre supply discounts), permits deduction for specified post supply discounts, and requires recourse to Valuation Rules when transaction value cannot be determined, with special valuation rules for second hand goods, repossessed goods, works contracts involving land, and lottery tickets.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transaction value in GST determines taxable supply value; inclusions, exclusions and valuation rules govern uncertain or related-party pricing.
Valuation for GST is ordinarily based on the transaction value, the price paid or payable where parties are unrelated and price is sole consideration; Section 15 prescribes inclusions (taxes and charges other than CGST/SGST and compensation cess, amounts borne by recipient, incidental expenses, interest/penalty, and subsidies linked to price) and exclusions (properly recorded pre supply discounts), permits deduction for specified post supply discounts, and requires recourse to Valuation Rules when transaction value cannot be determined, with special valuation rules for second hand goods, repossessed goods, works contracts involving land, and lottery tickets.
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