GST
Value of Supply
Definition
|
3 Related Terms
What is Value of Supply?
Value of Supply is the transaction value (price actually paid or payable) on which GST is calculated, excluding the GST amount itself. It includes any charges like packing, freight, insurance, commission, etc., that are charged separately by the supplier. The value of supply must be determined correctly as it forms the base for calculating GST liability and claiming input tax credit.
Related Terms
People Also Search For
value of supply
gst calculation base
taxable value
transaction value gst
Need Help with GST?
Our certified experts can help you with GST registration, returns filing, and compliance.