https://www.taxtmi.com/article/detailed?id=1959 Valuation rules apply only when consideration exists; absence of consideration yields nil taxable value. Monetary equivalent of free goods or services supplied by a service recipient is includible in the taxable value where it reflects legislative intent and valuation rules, since such free supplies substitute costs the provider would otherwise incur. Specific amendments require inclusion of the fair market value of goods and services in the taxable value for works contracts, outdoor catering and restaurant services, while recognised exclusions like reimbursements and pure agent treatment remain applicable. en-us Thu, 29 Nov 2012 15:14:36 +0530 Thu, 29 Nov 2012 15:14:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1959 Valuation rules apply only when consideration exists; absence of consideration yields nil taxable value. Monetary equivalent of free goods or services supplied by a service recipient is includible in the taxable value where it reflects legislative intent and valuation rules, since such free supplies substitute costs the provider would otherwise incur. Specific amendments require inclusion of the fair market value of goods and services in the taxable value for works contracts, outdoor catering and restaurant services, while recognised exclusions like reimbursements and pure agent treatment remain applicable. Articles Service Tax Thu, 29 Nov 2012 15:14:36 +0530 https://www.taxtmi.com/article/detailed?id=1959