Valuation of goods under GST – Goods and Services Tax – Started By: – MohanLal tiwari – Dated:- 27-11-2017 Last Replied Date:- 2-12-2017 – Dear Experts, We have an order for manufacture & supply of machinery wherein customer is providing some free issue imported spares but the custom duty and clearing charges etc are being paid by us. As per Excise valuation Rules, the landed cost of such free issue was included in assesable value. Kindly advise whether the free issue mtls value is to be included in value for charging GST. As per section 5 of IGST Act read with section 15 of the CGST Act 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 g
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Regards – Reply By Rajagopalan Ranganathan – The Reply = Sir, As per Section 15 (2) (b) of CGST Act, 2017 the value of supply shall include any amount that the supplier is liable to pay in relation to such supply but which has been incurred by the recipient of the supply and not included in the price actually paid or payable for the goods or services or both. Value of free supply materials by the recipient of the supply is to be included in the transaction value, if the same is not included in the price. If the transaction value is already loaded with the value of free supply material no further addition is required. How can you pay custom duty and clearing charges when the materials are imported by the recipient of the supply. Please clari
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