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Valuation of sale made between related persons, Goods and Services Tax - GST

Issue Id: - 118165
Dated: 20-9-2022
By:- Rajesh Kumar
Valuation of sale made between related persons

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Dear Experts,

As per GST provisions, if ITC is available to recipients , any transaction value is considerable even between related persons.

Please enlight, is there any GST evasion if firm A ( Husband proprietor) issued invoices to firm B ( wife proprietor) when firm B feels lack of ITC or vice versa? Both the firms are registered at same address.

Is transactions between A& B are dubious in nature?

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Posts / Replies

Showing Replies 1 to 2 of 2 Records

1 Dated: 21-9-2022
By:- Ganeshan Kalyani

If the transaction is genuine then input tax credit is eligible subject to condition under Sec.16 and Sec. 17.


2 Dated: 22-9-2022
By:- DR.MARIAPPAN GOVINDARAJAN

It can be decided only the nature of transactions between the parties are indicated.


1

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