Delhi HC: Education Department Cannot Restrict Recruitment in Aided Minority Schools || Allahabad HC: Senior Citizens Act Cannot Decide Title Disputes Unless Transfer Challengeable || Bombay HC: Family Arrangement Execution Alone Not Proof of HUF Property Admission || Patna HC: BAU Statutes Cannot Convert 2011 Direct Recruitment into Tenure Appointment || P&H HC: Dressing Pet Dog as Lord Krishna Out of Devotion is Not Offence and Does Not Hurt Sentiments || J&K HC Quashes 2016 Case Against Coca-Cola Over in Dual Pricing MRPs Allegations || Supreme Court Explains the Grounds for Declaring a Judgment Per Incuriam || SC: Summoning Hotel Records, Phone Data to Prove Adultery Does Not Breach Privacy Rights || SC: Magistrates Should Not Record Prosecution Evidence in Sessions-Triable Cases || Supreme Court Lays Down Guidelines on Using ITRs to Assess Motor Accident Victims' Income

AAR, Tamil Nadu: Applicant Can Adopt Methods to Arrive at Value of Supply to Distinct Persons - (20 Jan 2021)

GOODS AND SERVICES TAX

Authority of Advance Ruling (AAR), Tamil Nadu has ruled that the applicant can adopt one of three methods to arrive at the value in respect of supply to distinct persons. Firstly, on the basis of open Market Value. Secondly, 90% of the ultimate sale value raised by the distinct persons to the un-related ultimate customers based on the Purchase Orders. Lastly, the distinct persons being eligible for full ITC, the ‘Invoice value’ is the deemed ‘Open Market Value’.

Tags : AUTHORITY OF ADVANCE RULING VALUE OF SUPPLY TO DISTINCT PERSONS

Share :