Q 134. What are the reasons for doubting transaction value declared?


Ans. The reasons have been indicated in Rule 7(b) of the draft GST Valuation Rules.  It is:- (i) comparable supplies are at significantly higher value; (ii) transaction is at significantly lower or higher than market value of supplies; and (iii) misdeclaration in parameters like description, quantity, quality, year of make etc.  The list is indicative…

This content is for annual and Semi Annual members only.

Log In Register