https://www.taxtmi.com/article/detailed?id=12791 The Act makes the transaction value the primary basis for taxable valuation when parties are unrelated and price is sole consideration. For related parties or non monetary consideration the rules require sequential methods: open market value, monetary equivalent, like kind value, cost based fallback, and residual methods. Value must include non-GST taxes, supplier borne amounts paid by recipient, incidental expenses, interest and price linked subsidies; bona fide discounts recorded or contractually linked and with reversed input tax credit are excluded. Pure agent payments, properly invoiced and authorized, are excluded. en-us Mon, 15 Jul 2024 17:17:52 +0530 Mon, 15 Jul 2024 17:17:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12791 The Act makes the transaction value the primary basis for taxable valuation when parties are unrelated and price is sole consideration. For related parties or non monetary consideration the rules require sequential methods: open market value, monetary equivalent, like kind value, cost based fallback, and residual methods. Value must include non-GST taxes, supplier borne amounts paid by recipient, incidental expenses, interest and price linked subsidies; bona fide discounts recorded or contractually linked and with reversed input tax credit are excluded. Pure agent payments, properly invoiced and authorized, are excluded. Articles Goods and Services Tax - GST Mon, 15 Jul 2024 17:17:52 +0530 https://www.taxtmi.com/article/detailed?id=12791