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Valuation as per Rule 28 applies only where the value for GST is not ascertainable

The Hon’ble AAR Tamil Nadu in the matter of M/s Thirumalai Chemicals Ltd. [Order No. 41/AAR/2020 dated December 18, 2020] has held that in case of Valuation of supply between distinct persons, any of the following three methods can be adopted as per Rule 28 of the CGST Rules, 2017 (“CGST Rules”): ·         Open Market Value (“OMV”) of such supply...

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Valuation as per Rule 28 applies only where the value for GST is not ascertainable

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