SC: Subsidy Taxability Depends on its Purpose under The Income Tax Law || MP HC:Revenue Authority’s Decision Can’t Operate as Res Judicata in Absence of Express Statutory Bar || SC: Breakup Followed by Suicide does not Automatically Amount to Abetment to Suicide || SC: Election Petition under Representation of the People Act Must be Filed Personally by Petitioner || Patna HC: Template Arrest Memo cannot Satisfy Mandate under Article 22 of Constitution || MP HC: Delayed Cruelty FIR not Counterblast When Wife “Remains Silent” to Save her Married Life || MP HC:Revenue Authority’s Decision Can’t Operate as Res Judicata in Absence of Express Statutory Bar || Patna HC: Signature Mismatch alone cannot Prove OMR Tampering || J&K&L HC: Bail can be Set Aside if Contrary to Statutory Mandate || Kerala HC: Headmistress’s Churidar cannot Bar Entry, Clothing Choice is A Fundamental Right

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 :