Supreme Court: Section 17A PC Act Does Not Cover Bribe Demands Unrelated to Official Duty || Supreme Court Directs Centre to Promote Interim Compensation Scheme for Road Accident Victims || Karnataka High Court Upholds Homicide Charge Against Father for Letting Minor Son Drive || Karnataka High Court Grants Bail to Pan Masala Maker in Rs. 42 Crore Cess Evasion Case || Karnataka High Court: Advocates Practising Without Clearing AIBE May Face Criminal Action || Allahabad HC Orders Scrutiny of UP Basic School Teachers’ Educational and Appointment Records || AP HC: Fabricated Sale Agreements and Breach of Property Undertaking Constitute Perjury || Supreme Court: State Cannot Acquire Temple Property Through Gift Deed || Supreme Court: HC Registry Should Exclude Court Vacations When Listing Cases After Fixed Days || Supreme Court Flags Stark Non-Compliance With Directions on CAPF Cadre Review

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 :