https://www.taxtmi.com/notifications?id=124014 The Rules establish a hierarchical method for valuation of supply-open market value; known monetary consideration plus equivalent for non-monetary consideration; value of like-kind and quality supplies; cost-based valuation at 110% of cost; and residual reasonable means. They also set documentary conditions for claiming input tax credit, provide for reversal of ITC where payment remains unpaid beyond 180 days with addition to output liability and interest, and prescribe invoice, return, refund, electronic ledger, assessment and audit procedures. en-us Fri, 29 Dec 2017 00:00:00 +0530 Wed, 31 Jan 2018 14:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=124014 The Rules establish a hierarchical method for valuation of supply-open market value; known monetary consideration plus equivalent for non-monetary consideration; value of like-kind and quality supplies; cost-based valuation at 110% of cost; and residual reasonable means. They also set documentary conditions for claiming input tax credit, provide for reversal of ITC where payment remains unpaid beyond 180 days with addition to output liability and interest, and prescribe invoice, return, refund, electronic ledger, assessment and audit procedures. Notifications GST - States Fri, 29 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/notifications?id=124014