Rule 28
Value of supply of goods or services or both between distinct or related persons, other than through an agent
GST
Determination of Value of Supply
Rule 28 of Central Goods and Services Tax Rules, 2017
28. Value of supply of goods or services or both between distinct or related persons, other than through an agent.-
1[(1)] The value of the supply of goods or services or both between distinct persons as specified in sub-section (4) and (5) of section 25 or where the supplier and recipient are related, other than where the supply is made through an agent, shall-
(a) be the open market value of such supply;
(b) if the open market value is not available, be the value of supply of goods or services of like kind and qua
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pplier to a recipient who is a related person 3[located in India], by way of providing corporate guarantee to any banking company or financial institution on behalf of the said recipient, shall be deemed to be one per cent of the amount of such guarantee offered 4[per annum], or the actual consideration, whichever is higher.]
5[Provided that where the recipient is eligible for full input tax credit, the value declared in the invoice shall be deemed to be the value of said supply of services.]
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NOTES:-
1.
Re-Numbered vide Notification No. 52/2023 – Central Tax dated 26-10-2023
2.
Inserted vide Notification No. 52/2023 – Central Tax dated 26-10-2023
3.
Inserted vide Notification No.&nb
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