How is the transaction value calculated on the import of service?
How is the transaction value calculated on the import of service?
Jeeba Jun. 20, 2018
Transaction Value is the basis for Valuation for supply of goods and/or services under the GST Regime. For the levy of tax, firstly we have to determine the transaction value. ‘Transaction Value’ is the price actually paid or payable for supply of goods and/or services.
Transaction value is determined on the basis of following conditions.
Supplier and recipient of the supply are not related; and
Price is the sole consideration for the supply
