Valuation in GST : Free Study Material

Here is the free study Material on Time of Supply under GST

Relevant GST Judgments on Valuation

How to do Valuation of supplies to branches in other states : AAR Clarified

Relevant Study Material on Valuation in GST

Valuation in GST : Analysis

Transfer Price for GST if Material Transferred within Company

GST on Discount : With examples

GST Treatment of Discounts

GST Applicability on Lending of money by way of Discounting of LC / Bill of Exchange

GST Reporting of discount earned by Bank on LC / Bill of Exchange

GST if supplier gives discounts on sales target achievement &; Clarification

Treatment of Discounts under GST

GST FAQ -Valuation in GST; 31.03.2017 by CBEC

Valuation in GST -FAQ;s on GST by CBEC

[Video] GST News [ Part 169 ] Valuation FAQs : by CA Satbir Singh ! TaxHeal.com

GST Valuation : Webinar by ICSI 06.10.2017

GST Valuation to include Interest , Penalty , late fee : Issues

GST Valuation issues if amount paid by recipient for supplier

GST Rate for Readymade garments and Valuation

Analysis of GST Valuation Rules

Give Illustration for Valuation of Second Hand Goods under GST ; ICAI ; GST Rules Issue 9

Replace “ point of taxation”  in Rule 8 of GST Valuation Rules &; ICAI ; GST Rules Issue 5

Simplify Rule 7 of GST Valuation Rules &; ICAI &; GST Rules Issue 4

Make Rule 6 of GST Valuation rules optional &; ICAI &; GST Rules Issue 3

Remove &  related persons ’ from Rule 2 of GST Valuation Rules ; ICAI ; GST Rules Issue 2

Delete term ‘ open market value ’ from GST Valuation Rules &; ICAI &; GST Rules Issue 1

Webinar on GST Supply and Valuation by ICSI

GST Valuation Rules Analysis &; Determination of Value of Supply Rules &; March 17

GST Valuation Rules (India)- 31.03.2017 Released by CBEC- Download-Print

GST Video- Valuation of Taxable Supply &; Valuation Rules (3rd technical session)

Relevant Sections of CGST Act on Valuation in GST

Section 12 CGST Act 2017 ; Time of supply of goods.

Section 13 CGST Act 2017 ; Time of supply of services

Section 14 CGST Act 2017 ; Change in rate of tax in respect of supply of goods or services.

Section 15 CGST Act 2017 : Value of taxable supply

Relevant Rules of CGST Rules 2017 on Valuation in GST

Rules for Valuation under GST are covered in  CHAPTER IV  of CGST Rules 2017  DETERMINATION OF VALUE OF SUPPLY

Rule – 27 Value of supply of goods or services where the consideration is not wholly in money

Rule – 28 Value of supply of goods or services or both between distinct or related persons, other than through an agent

Rule – 29 Value of supply of goods made or received through an agent

Rule – 30 Value of supply of goods or services or both based on cost

Rule – 31 Residual method for determination of value of supply of goods or services or both

Rule -31A Value of supply in case of lottery, betting, gambling and horse racing.

Rule – 32 Determination of value in respect of certain supplies

Rule – 33 Value of supply of services in case of pure agent

Rule – 34 Rate of exchange of currency, other than Indian rupees, for determination of value

Rule – 35 Value of supply inclusive of integrated tax, Central tax, State tax, Union territory tax

Relevant Notifications on Valuation

1. Notification No. 9/2017 – Central Tax dated 28.06.2017 Seeks to appoint 01.07.2017 as the date on which the provisions of Section 12 are effective.
2. Notification No. 66/2017 – Central Tax dated 15.11.2017 Seeks to exempt all taxpayers from payment of tax on advances received in case of supply of goods (This  notification is issued superseding the earlier Notification No. 40/2017 – Central Tax dated 13.10.2017 wherein the exemption from payment of tax on receipt of advances was extended to to a registered person whose aggregate turnover is less than Rs 1.5 crores);
3. Notification No. 4/2017 – Central Tax (Rate) dated 28.06.2017 Specifies goods the supply of which is liable to CGST under reverse charge mechanism;
4. Notification No. 8/2017 – Central Tax (Rate) dated 28.06.2017 Exemption from payment of CGST under reverse charge for supplies where value do not exceed Rs 5,000/-;
5. Notification No. 10/2017 – Central Tax (Rate) dated 28.06.2017 CGST exemption for  dealers in buying and selling second hand goods operating under margin scheme;

Relevant Circulars on Valuation

 Circular No. 38/12/2018 dated 26.03.2018 is issued clarifying the levy of GST, time of supply of goods and value of supply in case of goods sent for job-work.

Related provisions of GST Act

Section or Rule (CGST / SGST) and Description
Section 2(31) Definition of Consideration
Section 2(41) Definition of Document
Section 2(52) Definition of Goods
Section 2(66) Definition of Tax Invoice or Invoice
Section 2(93) Definition of Recipient
Section 2(97) Definition of Return
Section 2(98) Definition of Reverse Charge
Section 2(105) Definition of Supplier
Section 2(118) Definition of voucher
Section 7 Scope of Supply
Section 9 Levy and Collection
Section 14 Change in rate of tax in respect of supply of goods or services

Section 15  : Value of taxable supply

Section 31 Tax invoice, credit note and debit note
Section 39 Furnishing of Returns

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