https://www.taxtmi.com/acts?id=24231 Value of supply between distinct or related persons not through an agent is determined primarily by open market value, failing which by the value of like kind and quality supplies, and if still not determinable, by application of rule 4 or rule 5. Supplier may elect a reduced valuation when goods are intended for onward supply by the recipient, and where the recipient is eligible for full input tax credit the invoice value is deemed to be the open market value. en-us Mon, 03 Apr 2017 13:46:40 +0530 Fri, 19 May 2017 12:50:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=24231 Value of supply between distinct or related persons not through an agent is determined primarily by open market value, failing which by the value of like kind and quality supplies, and if still not determinable, by application of rule 4 or rule 5. Supplier may elect a reduced valuation when goods are intended for onward supply by the recipient, and where the recipient is eligible for full input tax credit the invoice value is deemed to be the open market value. Act-Rules Bills Mon, 03 Apr 2017 13:46:40 +0530 https://www.taxtmi.com/acts?id=24231