Valuation of Supply defines transactional and special-method rules under GST including inclusions, exclusions and special cases. Valuation under GST prescribes transaction value as the default taxable value where parties are unrelated and price is sole consideration, mandates addition of specified inclusions (non GST taxes, recipient borne expenses, incidental charges, interest and non government subsidies), allows exclusion of pre supply and qualifying post supply discounts, and sets sequential valuation steps (open market value; total money value; like-kind value; cost plus 10% markup; best judgement) for non monetary or related party transactions, with dedicated special methods for agents, pure agents, foreign exchange, air ticketing, life insurance, second hand goods, repossessions, vouchers, works contracts involving land, and extraction of tax from tax inclusive prices.
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Provisions expressly mentioned in the judgment/order text.
Valuation of Supply defines transactional and special-method rules under GST including inclusions, exclusions and special cases.
Valuation under GST prescribes transaction value as the default taxable value where parties are unrelated and price is sole consideration, mandates addition of specified inclusions (non GST taxes, recipient borne expenses, incidental charges, interest and non government subsidies), allows exclusion of pre supply and qualifying post supply discounts, and sets sequential valuation steps (open market value; total money value; like-kind value; cost plus 10% markup; best judgement) for non monetary or related party transactions, with dedicated special methods for agents, pure agents, foreign exchange, air ticketing, life insurance, second hand goods, repossessions, vouchers, works contracts involving land, and extraction of tax from tax inclusive prices.
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