CGST Rules Rule 35 — Value of supply inclusive of integrated tax, central tax, State tax, Union territory tax

CGST Rules, 2017 · Value of supply inclusive of integrated tax, central tax, State tax, Union territory tax

CGST Rules

Quick Answer

Rule 35 of the CGST Rules, 2017 governs Value of supply inclusive of integrated tax, central tax, State tax, Union territory tax. It establishes the detailed procedural framework and compliance requirements necessary to implement the corresponding provisions of the CGST Act. Rule 35 CGST: Value of supply inclusive of integrated tax, central tax — eligibility, conditions, case laws and compliance impact under Indian tax law.

Case Laws 0

All CGST Rules All Case Laws Notifications Circulars Dashboard

Where the value of supply is inclusive of integrated tax or, as the case may be, central tax, State tax, Union territory tax, the tax amount shall be determined in the following manner, namely,- Tax amount = (Value inclusive of taxes x tax rate in % of IGST or, as the case may be, CGST, SGST or UTGST) (100+ sum of tax rates, as applicable, in %)

Explanation. - For the purposes of the provisions of this Chapter, the expressions-

(a)"open market value" of a supply of goods or services or both means the full value in money, excluding the integrated tax, central tax, State tax, Union territory tax and the cess payable by a person in a transaction, where the supplier and the recipient of the supply are not related and the price is the sole consideration, to obtain such supply at the same time when the supply being valued is made;

(b)"supply of goods or services or both of like kind and quality" means any other supply of goods or services or both made under similar circumstances that, in respect of the characteristics, quality, quantity, functional components, materials, and the reputation of the goods or services or both first mentioned, is the same as, or closely or substantially resembles, that supply of goods or services or both.

No case laws found for this section yet.

Browse all case laws →

No FAQs available for this section yet.

No related notifications found for this section.

Browse all notifications →

Amendment History

No amendment records available for this section.

CGST Rules Rule 35 was introduced as part of the CGST Rules, 2017.

CGST Rules Rule 35 — Value of supply inclusive of integrated tax, central tax, State tax, Union territory tax

Quick Answer

Amendment History

Get AI-Powered GST Insights