SC: CIRP Can Continue Despite Fraudulent Insolvency Plea That Triggered It || Delhi HC: Senior Citizen May Seek Eviction of Daughter-in-Law for Ill-Treatment || Delhi HC: Mere Possession of Visa Does Not Confer an Unconditional Right to Enter India || Delhi HC: Every Insensitive or Objectionable Matrimonial Act Does Not Amount to Cruelty || J&K&L HC: Fake Driving Licence Does Not Exonerate Insurer If Driver Has a Valid Licence || P&H HC: Safety Council Report and CCTV Cannot Be Rejected at Charge Stage for Lack of Proof || Delhi High Court Stays Rs. 213 Crore SAIL Payout to British Firm over Unstamped Arbitral Award || Allahabad HC: Bar Council Cannot Suspend Advocate’s Licence Pending Disciplinary Inquiry || SC: CIRP Need Not Be Set Aside Solely for Fraudulent Filing of Section 9 Plea || Supreme Court: Compromise Decree Passed Without Impleading Necessary Party is Void

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 :