What are the reasons for doubting transaction value declared?


The reasons have been indicated in Rule 7(b) of the draft GST Valuation Rules. It is:-

(i) comparable supplies are at significantly higher value;

(ii) transaction is at significantly lower or higher than market value of supplies; and

(iii) misdeclaration in parameters like description, quantity, quality, year of make etc. The list is indicative and not exhaustive.


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