https://www.taxtmi.com/forum/issue?id=111742 Supplies between related persons must be valued by applying open market value; if open market value is not available, value of like goods or services applies, and thereafter prescribed fallback rules govern. Where the recipient is eligible for full input tax credit, the invoice value is deemed to be the open market value. The statute defines related persons by ownership, control, partnership, officer/director relationships, employer-employee links, common control and family membership. Clarification on the precise meaning of open market value and availability of cost based valuation is pending. en-us Thu, 06 Apr 2017 13:20:48 +0530 Thu, 23 Jan 2025 15:55:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=111742 Supplies between related persons must be valued by applying open market value; if open market value is not available, value of like goods or services applies, and thereafter prescribed fallback rules govern. Where the recipient is eligible for full input tax credit, the invoice value is deemed to be the open market value. The statute defines related persons by ownership, control, partnership, officer/director relationships, employer-employee links, common control and family membership. Clarification on the precise meaning of open market value and availability of cost based valuation is pending. Discussion-Forum GST Thu, 06 Apr 2017 13:20:48 +0530 https://www.taxtmi.com/forum/issue?id=111742