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Value of taxable supply

Section 15 - TIME AND VALUE OF SUPPLY - Goods and Services Tax - Section 15 - 15. (1) The value of a supply of goods and/or services shall be the transaction value, that is the price actually paid or payable for the said supply of goods and/or services where the supplier and the recipient of the supply are not related and the price is the sole consideration for the supply. (2) The value of supply shall include: (a) any taxes, duties, cesses, fees and charges levied under any statute, other than .....

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supply, including any amount charged for anything done by the supplier in respect of the supply of goods and/or services at the time of, or before delivery of the goods or, as the case may be, supply of the services; (d) interest or late fee or penalty for delayed payment of any consideration for any supply; and (e) subsidies directly linked to the price excluding subsidies provided by the Central and State governments; Explanation.- The amount of subsidy shall be included in the value of suppl .....

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