GST What is the value of taxable supply to be adopted for the levy of GST?

Discussion in 'GST (Goods & Service Tax)' started by Raju Choudhary, Apr 15, 2017.

  1. Raju Choudhary

    Raju Choudhary Active Member Staff Member

    Ans. The value of taxable supply of goods and services shall ordinarily be ‘the transaction value’ which is the price paid or payable, when the parties are not related and price is the sole consideration. Section 15 of the CGST/SGST Act further elaborates various inclusions and exclusions from the ambit of transaction value. For example, the transaction value shall not include refundable deposit, discount allowed subject to certain conditions before or at the time of supply.
     
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