What are the reasons for doubting transaction value declared?
Question 11
Bill
Valuation in GST
FAQ on GST dated 21.9.2016 based on Draft Model GST
Q 11. What are the reasons for doubting transaction value declared?
\nAns. The reasons have been indicated in Rule 7(b) of the draft GST Valuation Rules. It is:- (i) comparable supplies are at significantly higher value; (ii) transaction is at significantly lower or higher than market value of supplies; and (iii) misdeclaration in par<\/p>\n
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