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Value of supply of goods made or received through an agent

Rule 3 - Determination of Value of Supply - Goods and Services Tax - Rule 3 - 3. The value of supply of goods between the principal and his agent shall,- (a) be the open market value of the goods being supplied, or at the option of the supplier, be ninety percent of the price charged for the supply of goods of like kind and quality by the recipient to his customer not being a related person, where the goods are intended for further supply by the said recipient; Illustration: Where a principal su .....

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