Value in case of Pure Agent Rule 7 of draft GST Valuation Rules provides that the expenditure or costs incurred by the supplier as a pure agent of the recipient of supply of services shall be excluded from the value of supply if the following conditions are satisfied: (i) the supplier acts as a pure… Read More »
Determination of value in respect of certain supplies Rule 6 of draft GST Valuation Rules provides for different mechanisms for valuation in various cases like value of supply of services in relation to purchase or sale of foreign currency, including money changing, booking of tickets for travel by air provided by an air travel agent,… Read More »
Value of supply in case of supply between distinct persons or related persons Rule 2 [Draft Valuation Rules ] provides for a mechanism to arrive at a value in case of distinct persons and related persons by following the same options as available in Rule 1. Issue While supply between distinct persons being covered by this… Read More »
Delete the term ‘open market value’ from GST Valuation Rules Draft Valuation Rules introduces a new concept of ‘open market value’, to be the first value to be applied in case a transaction does not satisfy the requirements of Section 15 Issue It is a new and untested concept and is not even based on… Read More »