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Valuation of supply under GST

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Valuation of supply under GST

  1. 1. Ambarish R Asst. Professor Valuation of Supply U/s 15
  2. 2. As per section 15(1): The value of a supply of goods and/or services shall be the transaction value, that is the price actually paid or payable for the said supply of goods and/or services where the supplier and the recipient of the supply are not related and the price is the sole consideration for the supply.
  3. 3. The value of supply shall include: (b) any amount that the supplier is liable to pay in relation to such supply but which has been incurred by the recipient of the supply and not included in the price actually paid or payable for the goods and/or services.
  4. 4. As per section 15(2) the value of supply shall include (c) incidental expenses, such as, commission and packing, charged by the supplier to the recipient of a supply, including any amount charged for anything done by the supplier in respect of the supply of goods and/or services at the time of, or before delivery of the goods or, as the case may be, supply of the services.
  5. 5. As per section 15(2) the value of supply shall include: (d) interest or late fee or penalty for delayed payment of any consideration for any supply
  6. 6. As per section 15(2) the value of supply shall include: (e) subsidies directly linked to the price excluding subsidies provided by the Central and State governments Explanation.- The amount of subsidy shall be included in the value of supply of the supplier who receives the subsidy
  7. 7. Exclusion of discount in Transaction Value Section 15(3)(a) of Model CGST/ SGST Act, 2016: Discount given before or at time of supply
  8. 8. Section 15(3)(b) of Model CGST/ SGST Act, 2016: Discount given AFTER supply
  9. 9. As per section 15(4): Where the value of the supply of goods or services cannot be determined under sub-section (1), the same shall be determined in such manner as may be prescribed.
  10. 10. Section 15(5) of Model CGST/ SGST Act, 2016: Valuation rules and TV not applicable

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