Question 4 – Draft-Bills-Reports – Valuation in GST – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 4 – Q 4. Is contract price not sufficient to determine valuation of supply? Ans. Contract price is more specifically referred to as transaction value and that is the basis for computing tax. However, when the price is influenced by some factors like relationship of parties or certain transactions are deemed to be supply, which do not have a price, it is required to overcome these
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