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consideration

Gauri Shanker Lal Srivastav (218 Points)

20 June 2018

What is the meaning of the term “Price is not the sole consideration”?

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Jhalak Jain (118 Points)
Replied 20 June 2018

Price is not the sole consideration means the price paid or payable for goods or service is less than the market value of goods or service

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Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 20 June 2018

The transaction value shall be accepted if the price is the sole consideration. In other words, what is received or what is to be received should only be the price paid or payable to the supplier. No other consideration in any form should be payable for the supply.

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Vinod Babu (24191 Points)
Replied 20 June 2018

section 15 value of supply "price is the sole consideration"

Just take example exchange your old mobile phone with new phone and pay some cash also... Example of price not the sole consideration... Valuation as per rule 27....and take another look example where u purchased a new phone only paying cash or bank... It is price sole consideration

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