Whether value for each transaction will have to be fed? What if no consideration?

Question 7 – Draft-Bills-Reports – Returns Process and matching of Input Tax Credit – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 7 – Q 7. Whether value for each transaction will have to be fed? What if no consideration? Ans. Yes. Not only value but taxable value will also have to be fed. In some cases, both may be different. In case there is no consideration, but it is supply by virtue of schedule 1, the taxable value will have to be worked out as prescribed and uploaded. – Statutory P

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