SC: Absence of Independent Witnesses is Not Fatal if Injured Eyewitness Testimony is Sterling  ||  Supreme Court: Prosthetic Limb Costs Must Be Compensated To Restore Victims’ Dignity  ||  Supreme Court: Probate Can be Revoked For Non-Impleadment of Parties and Suppression of Facts  ||  SC: Plaint Cannot be Rejected For Valuation or Court Fee Defects Without Chance to Rectify  ||  SC Rules Government Grants Act Overrides Rent Law, Sets Aside Eviction Proceeding Against Union Govt  ||  SC: Civil Court Has No Jurisdiction in Boundary Dispute Between Maharashtra Panchayat & Municipality  ||  Allahabad HC: Two Criminal Cases Insufficient to Label a Person as 'Goonda' and Harm Reputation  ||  Bom HC: Sprinkling Mustard Without Ill Intent Before a House is Not an Offence under Black Magic Act  ||  J&K&L HC: Preventive Detention Invalid When Based on Speculative Fear of Election Disturbance  ||  Bombay High Court: POSH Act Penalises False Complaints by Women But Not Those Who Instigate Them    

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 :        

Disclaimer | Copyright 2026 - All Rights Reserved