GST rules: valuation hierarchy, input tax credit conditions, invoicing, returns, refunds, assessments, anti profiteering and e way guidance. Rules set a hierarchy for valuation where consideration is not wholly in money, prioritising open market value, then monetary equivalent of non monetary consideration, comparable supplies, cost based and residual methods. Detailed ITC mechanics require prescribed documentary evidence, timed reversal when supplier payment is not made, attribution for partly non business or exempt use including formulaic segregation and five year treatment for capital goods, and specified distribution procedures for Input Service Distributors and banking/financial institutions.
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.
GST rules: valuation hierarchy, input tax credit conditions, invoicing, returns, refunds, assessments, anti profiteering and e way guidance.
Rules set a hierarchy for valuation where consideration is not wholly in money, prioritising open market value, then monetary equivalent of non monetary consideration, comparable supplies, cost based and residual methods. Detailed ITC mechanics require prescribed documentary evidence, timed reversal when supplier payment is not made, attribution for partly non business or exempt use including formulaic segregation and five year treatment for capital goods, and specified distribution procedures for Input Service Distributors and banking/financial institutions.
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