GST Tip – 210

As per the Draft Determination of Value of Supply Rules, valuation in case of related parties or distinct parties or through an agent, the value of supply of goods or services or both is the open market value, if the same is not available then the value of same or similar quality of goods or services and in case if the same is not available then it can be derived based on cost plus 10%.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s