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of <h1>Understanding GST Supply Value: Section 15 Explains Discounts, Penalties, and Non-Monetary Considerations in India's 2023 Manual.</h1> The document is a comprehensive guide on determining the value of supply under the GST framework in India, as outlined in the Model All India GST Audit Manual 2023. It details various scenarios affecting the value of supply, such as discounts, penalties, and non-monetary considerations. The manual explains the application of Section 15 of the CGST/SGST Act, 2017, which defines transaction value and includes taxes, duties, and incidental expenses. It also covers valuation rules for related parties, barter transactions, and specific services like foreign exchange and air travel. Additionally, it addresses the treatment of discounts, penalties, and incidental charges in GST calculations.
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