Taxation · GST Valuation Rules
Under the GST valuation rules, specifically Rule 28 of the CGST Rules, when a supply of goods or services is made between distinct or related persons (other than through an agent) and the recipient is eligible for full input tax credit, what is the legally mandated value of such a supply for tax purposes?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The value shall be the open market value of such supply as determined by the tax department.
- 2The value shall be one hundred and ten percent of the cost of production or manufacture of such goods.
- 3The value declared in the invoice shall be deemed to be the open market value of the goods or services.✓
- 4The value shall be determined by the comparison of similar supplies made to unrelated customers in different geographical regions.
Correct answer
The value declared in the invoice shall be deemed to be the open market value of the goods or services.
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