GST Applied on Higher Value for Goods or Services; Includes Freight and Insurance Costs in Composite Supply Value.

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....GST is applied on supply of goods or services. If there are two values of any supply, then GST is to be taxed on the higher value of supply. Hence in this case, the higher of the two value i.e. the actual cost of Freight and insurance or the pre contracted fixed freight per unit of the product, shall be included in the value of composite supply.....