https://www.taxtmi.com/caselaws?id=390450 Rule 28 of the CGST Rules treats supplies between distinct persons by reference first to open market value, with alternate methods where that value is unavailable. The first proviso permits valuation at 90% of the recipient's onward sale price for goods intended for further supply, while the second proviso independently deems the invoice value to be open market value where the recipient is eligible for full input tax credit. The provisos apply to different situations and are not sequential conditions. Where full input tax credit is available to the recipient distinct person, invoice value may be adopted as open market value. en-us Wed, 13 Nov 2019 00:00:00 +0530 Sat, 15 Mar 2025 13:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390450 Rule 28 of the CGST Rules treats supplies between distinct persons by reference first to open market value, with alternate methods where that value is unavailable. The first proviso permits valuation at 90% of the recipient's onward sale price for goods intended for further supply, while the second proviso independently deems the invoice value to be open market value where the recipient is eligible for full input tax credit. The provisos apply to different situations and are not sequential conditions. Where full input tax credit is available to the recipient distinct person, invoice value may be adopted as open market value. Case-Laws GST Wed, 13 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390450