The Manipur Goods and Services Tax (First Amendment) Rules, 2017. - 05/10/2017-FD(TAX) - Manipur SGST

GST rules: Amended valuation hierarchy, detailed input tax credit attribution and reversals, invoicing, returns, refunds and transitional procedures.

Amendments prescribe a hierarchical valuation regime: open market value first, then monetary equivalent of non-monetary consideration, comparable supplies, cost-based rule (110% of cost), and a residual reasonable-means rule; special valuation rules apply for currency exchange, travel bookings, insurance, second-hand goods, tokens and pure-agent recoveries. Detailed input tax credit conditions, attribution and reversal formulas, ISD distribution mechanics, capital-good phase-ins and transfer procedures are set. Invoicing, recordkeeping, electronic ledgers, return formats and refund, assessment and transitional procedures are standardized with prescribed forms and timelines.