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supply to related party, Goods and Services Tax - GST

Issue Id: - 116094
Dated: 3-3-2020
By:- Kaustubh Karandikar
supply to related party

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XYZ is manufacturing and supplying moulds exclusively to related party. What should be the basis for valuation for this transaction?

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1 Dated: 6-3-2020
By:- CAVenkataprasad Pasupuleti

Open market value as per rule 28. If recipient is fully eligible, the declared value in the invoice would be deemed as open market value. Therefore, if the recipient unit is eligible for ITC and not making any exempted supplies using such moulds, the amount whatever declared can be taken as taxable value.


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