3. Methods of determination of value
(1) Subject to rule 7, the value of goods and/or services shall be the transaction value.
(2) The “transaction value” shall be the value determined in monetary terms.
(3) Where the supply consists of both taxable and non-taxable supply, the taxable supply shall be deemed to be for such part of the monetary consideration as is attributable thereto.
(4) The transaction value shall be accepted even where the supplier and recipient of supply are related, provided that the relationship has not influenced the price.
(5) Where goods are transferred from-
(a) one place of business to another place of the same business,
(b) the principal to an agent or from an agent to the principal,
whether or not situated in the same State, the value of such supply shall be the transaction value.
(6) The value of supplies specified in sub-section (4) of section 15 of the Act shall be determined by proceeding sequentially through rules 4 to 6.
