Special provision related to determination of value of
second hand goods
The taxable value of
supply of second hand goods i.e. used goods as such or after such minor
processing which does not change the nature of goods shall be the difference
between the purchase price and the selling price, provided no input tax credit
has been availed on purchase of such goods. However, if the selling price is
less than purchase price, that negative value will be ignored.
Persons who purchase
second hand goods after payment of tax to supplier of such goods will be
governed by this valuation rule only when they do not avail input tax credit on
such input supply. If input tax credit is availed, then such supply will be
governed by normal GST valuation
Value of supply of goods repossessed from a defaulting
borrower.
If the defaulting
borrower is not a registered person, the purchase value will be purchase price
in the hands of such borrower reduced by five percentage points for every
quarter or part thereof, between the date of purchase and the date of disposal
by the person making such repossession.
However, if the defaulting borrower is registered, the
repossessing lender agency will discharge GST at the supply value without any reduction
from actual/notional purchase value.
Special provisions related to determination of value of
redeemable vouchers/ stamps/ coupons/ tokens
The value of a token, or a voucher, or a coupon, or a stamp
(other than postage stamp) which is redeemable against a supply of goods or
services or both shall be equal to the money value of the goods or services or
both redeemable against such token, voucher, coupon, or stamp.
(i)
Construction of a complex, building, civil
structure or a part thereof, including a complex or building intended for sale
to a buyer, wholly or partly, except where the entire consideration has been
received after issuance of completion certificate, where required, by the
competent authority or after its first occupation, whichever is earlier.
(ii)
In case of supply of service mentioned above,
involving transfer of property in land or undivided share of land, as the case
may be, the value of supply of service and goods portion in such supply shall
be equivalent to the total amount charged for such supply less the value of
land or undivided share of land, as the case may be, and the value of land or
undivided share of land, as the case may be, in such supply shall be deemed to
be one third of the total amount charged for such supply.
“Total amount” means the sum total of,-
(a) Consideration charged for aforesaid service; and
(b) Amount charged for transfer of land or undivided share of land, as
the case may be.
Valuation in the case of supply of lottery
Value of supply of
lottery shall be 100/112 of the face value or the price notified in the
Official Gazette by the organising State, whichever is higher, in case of
lottery run by State Government and 100/128 of the face value or the price
notified in the Official Gazette by the organising State, whichever is higher,
in case of lottery authorised by State Government.
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