https://www.taxtmi.com/forum/issue?id=114817 Subsidies or grants given by the Central or State Government are excluded from the statutory definition of consideration and from the value of supply, so a government-funded service's taxable value should exclude such subsidies even though the supplier should record the full service amount for accounting. However, if the services qualify as exempt supplies under the applicable exemption entry, the supplier may face input tax credit reversal obligations, making factual and legal analysis of supply scope and exemption applicability necessary. en-us Mon, 01 Apr 2019 18:43:11 +0530 Thu, 23 Jan 2025 15:55:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114817 Subsidies or grants given by the Central or State Government are excluded from the statutory definition of consideration and from the value of supply, so a government-funded service's taxable value should exclude such subsidies even though the supplier should record the full service amount for accounting. However, if the services qualify as exempt supplies under the applicable exemption entry, the supplier may face input tax credit reversal obligations, making factual and legal analysis of supply scope and exemption applicability necessary. Discussion-Forum GST Mon, 01 Apr 2019 18:43:11 +0530 https://www.taxtmi.com/forum/issue?id=114817