Determination of value of supply provided by notified class of services [Rule 32(7) of CGST rules] - GST Ready Reckoner - GST

Value of taxable services provided by a notified class of service providers as referred to in para 2 of schedule 1 between the distinct persons - Rule 32(7) of the GST Rules The taxable value is deemed to be Nil wherever input tax credit is available. Valuation of certain works contract services Construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certificate, where required, by the competent authority or after its first occupation, whichever is earlier. In case of supply of service mentioned above, involving transfer of property in land or undivided share of land, as the case may be, the value of supply of service and goods portion in such supply shall be equivalent to the total amount charged for such supply less the value of land or undivided share of land, as the case may be, and the value of land or undivided share of land, as the case may be, in such supply shall be deemed to be one third of the total amount charged for such supply. Total amount means the sum total of,- (a) consideration charged for aforesaid service; and (b) amount charged for transfer of land or undivided share of land, as the case may be. Value of supply inclusive of integrated tax, central tax, State tax, Union territory tax - Rule 35 of the GST Rules Where the value of supply is inclusive of GST, the tax amount shall be determined in the following manner, Tax amount= (Value inclusive of taxes X GST tax rate in % )/(100+ sum of GST tax rates in %) For example - If the value inclusive of tax is Rs. 100/- and applicable GST tax rate is 18% then Tax amount = (100x18)/ (100+18) = 1800/118=Rs. 15.25