Goods and Services Tax has been launched in India. Every supply under the GST law has to be valued on the basis of these rules. Read here to know more. Join for our Online Courses to learn more. Visit our website : https://gstcentre.in/

1. ValuationInGST
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2. The value of goods and services supplied should be identified to
ascertain the tax payable as per GST law. The value of taxable
supply of goods and services shall ordinarily be the transaction
value which is actually the price paid or payable,When the
parties are not related and price is the solo consideration.

3. Transaction Value
Transaction value refers to the price actually paid or payable for the supply
of goods and services. Normally some conditions are applied which are:
Price is the sole consideration for the supply
The supplier and the recipient are not related

4. Valuation Rules
Contract price is more specifically referred to as transaction value and
that is the basis for computing tax.However, when the price is influence by
some factors like relationship of parties or certain transactions are deemed
to be supply,which do not have a price,it is required to overcome these
factors to determine the transaction value correctly.

5. When is valuation applicable?
(i) Consideration not in money terms
Valuation rates are applicable when
(ii) Transaction Value declared is not reliable
(iii) Parties are related
(iv) supply by any specified category of supplier mentioned in the
GST Law

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