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Determination of value in respect of certain supplies

Rule 6 - Final Rules (Draft) - Determination of Value of Supply - GST - Determination of Value of Supply - Final Draft Rules 18-5-2017 - Rule 6 - 6. (1) Notwithstanding anything contained in these rules, the value in respect of supplies specified below shall, at the option of the supplier, be determined in the manner provided hereinafter. (2) The value of supply of services in relation to purchase or sale of foreign currency, including money changing, shall be determined b .....

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Indian Rupees provided or received by the person changing the money: Provided further that in case where neither of the currencies exchanged is Indian Rupee, the value shall be equal to 1% of the lesser of the two amounts the person changing the money would have received by converting any of the two currencies into Indian Rupee on that day at the reference rate provided by RBI. Provided also that a person supplying the services may exercise option to ascertain value in ter .....

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per cent. of the gross amount of currency exchanged for an amount exceeding one lakh rupees and up to ten lakh rupees; and (iii) five thousand and five hundred rupees and one tenth of a per cent. of the gross amount of currency exchanged for an amount exceeding ten lakh rupees, subject to maximum amount of sixty thousand rupees. (3) The value of supply of services in relation to booking of tickets for travel by air provided by an air travel agent, shall be deemed to be an .....

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hall be: (a) the gross premium charged from a policy holder reduced by the amount allocated for investment, or savings on behalf of the policy holder, if such amount is intimated to the policy holder at the time of supply of service; (b) in case of single premium annuity policies other than (a), ten per cent. of single premium charged from the policy holder; or (c) in all other cases, twenty five per cent. of the premium charged from the policy holder in the firs .....

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