Q 124. What is the value of taxable supply to be adopted for the levy of GST?


Ans. The value of taxable supply of goods and services shall ordinarily be ‘the transaction value’ which is the actually the price paid or payable, when the parties are not related and price is the sole consideration.  The MGL further   elaborates   various   inclusions   and   exclusions from the ambit of transaction value.   For example, the transaction…

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