Question 4 – Draft-Bills-Reports – Valuation in GST – FAQ on GST (2nd Edition) dated 31.3.2017 – 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 factors like relationship of parties or where certain transactions are deemed to be supply, which do not have a price, the value has to be determined in accordan
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