valuation for related person
Query (Issue) Started By: – arun aggarwal Dated:- 6-4-2017 Last Reply Date:- 14-4-2017 Goods and Services Tax – GST
Got 7 Replies
GST
Sir
\nI would like to knows the procedure of valuation under GST regime as compare to the excise rules of today, in the case where intermidate goods manufactured and supplies to a related firm and valuation done as per CAS 4 and charged accordingly.
\nTnx
\nReply By MARIAPPAN GOVINDARAJAN:
\nThe Reply:
\nNo clear picture in GST in this regard.
\nReply By arun aggarwal:
\nThe Reply:
\nTnx
\nand lets wait for the clarification in this regard.
\nArun
\nReply By Rajagopalan Ranganathan:
\nThe Reply:
\nSir,
\nAccording to Section 15 (1) of CGST Act, 2017 "the value of a supply of good<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n d by the Government. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ) such persons are legally recognised partners in business; = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" valuation for related person Query (Issue) Started By: – arun aggarwal Dated:- 6-4-2017 Last Reply Date:- 14-4-2017 Goods and Services Tax – GSTGot 7 RepliesGSTSir I would like to knows the procedure of valuation under GST regime as compare to the excise rules of today, in the case where intermidate goods manufactured and supplies to … Continue reading “valuation for related person”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-3216","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/3216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3216"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/3216\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nReply By Rajagopalan Ranganathan:
\nThe Reply:
\nSir,
\nAs per rule 2 of Draft Rules dated 31-3-2017 for GST – Determination of Value of Supply –
\n"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,-
\n (a) be the open market value of such supply;
\n (b) if open market value is not available, be the value of supply of goods or services of like kind and quality;
\n (c) if value is not determinable under clause (a) or (b), be the value as determined by application of rule 4 or rule 5, in that order:
\nProvided where the recipient is el<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n (iii) such persons are employer and employee;
\n (iv) any person directly or indirectly owns, controls or holds twenty-five per cent or more of the outstanding voting stock or shares of both of them;
\n (v) one of them directly or indirectly controls the other;
\n (vi) both of them are directly or indirectly controlled by a third person;
\n (vii) together they directly or indirectly control a third person; or
\n (viii) they are members of the same family."
\nReply By arun aggarwal:
\nThe Reply:
\nSir
\nAs I am awailing certain area based exemptions, can I opt for the valuation as per sec 4 of GST means on cost and charge 110 % on supplies made to related parties for their captive cons<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n