Value of taxable supply Important Questions with Answers 2021. FAQs on Value of taxable supply, List of Important Queries related to Value of taxable supply with there solutions. The value of a supply of goods or services or both shall be the transaction value, which is the price actually paid or payable for the said supply of goods or services or both where the supplier and the recipient of the supply are not related and the price is the sole consideration for the supply. Now check more details for "Value of taxable supply Important Questions with Answers 2021"
Value of taxable supply Important Questions with AnswersIs there any specific valuation mechanism provided for composite supplies and mixed supplies?
Is reference to Valuation Rules required in all cases?No. Reference to Valuation Rules is required only when the supply is between related persons (including different registrations of the same PAN and principal agent supplies), or where the consideration payable is not wholly in money. However, in specific cases where the categories of goods and services are notified in this regard (such as money-changing), the valuation rules must be referred to, irrespective of the fact that the supplier and recipient are unrelated and price is the sole consideration.
- Discount at the time of Sale – Allowed as a deduction provided if the discount is recorded on the face of invoice.