Value of Taxable Supply under GST Online Test, GST Online Quiz

The value of supply of goods and services shall be the

. The value of supply should include

When can the transaction value be rejected for computation of value of supply

What deductions are allowed from the transaction value

If the goods are supplied to related persons then how should the taxable person
ascertain the value of supplies?

Rule 30 of the CGST Rules inter alia provides value of supply of goods or services or both
based on cost shall be ……………% of cost of production or manufacture or the cost of
acquisition of such goods or the cost of provision of such services

As per Rule 31 of the CGST Rules, residual method for determination of value of supply of
goods or services or both will apply when:

In the case of supply of services, the supplier may opt for Rule 31 ignoring Rule 30 of the
CGST Rules?

In terms of Rule 32(7) of the CGST Rules, the value of taxable services provided by
such class of service providers as may be notified by the Government, on the
recommendations of the Council, as referred to in paragraph 2 of Schedule I of the
CGST Act between distinct persons as referred to in section 25, where ITC is available,
shall be deemed to be ………………..

Mr. Santa located in Nashik purchases 10,000 Hero ink pens worth `4,00,000 from Lekhana
Wholesalers located in Mumbai. Mr. Mohan’s wife is an employee in Lekhana Wholesalers.
The price of each Hero pen in the open market is `52. The supplier additionally charges
`5,000 for delivering the goods to the recipient’s place of business. The value of such
supply will be :

What will be the value of supply if Giriyas supply Sony television set for ` 85000 along with
the exchange of an old TV and if the price of the Sony television set without exchange is
` 1,00,000, the open market value of the Sony television set is: